Statutes > New Mexico Statutes > Chapter 5 - Municipalities and Counties. > Article 7 - Fire District Bonds, 5-7-1 through 5-7-7. > Section 5-7-4 - Use of proceeds of bond issue.

Section 5-7-4 - Use of proceeds of bond issue.

5-7-4. Use of proceeds of bond issue.

It is unlawful to divert, use or expend any money received from the issuance of fire district bonds for any purpose other than the purposes for which the bonds were issued.