Statutes > New Mexico Statutes > Chapter 72 - Water Law. > Article 17 - Las Cruces Metropolitan Arroyo Flood Control, 72-17-1 through 72-17-103. > Section 72-17-57 - Capitalization of costs.

Section 72-17-57 - Capitalization of costs.

72-17-57. Capitalization of costs.

Any resolution authorizing the issuance of securities or other instrument appertaining thereto may capitalize interest on any securities during any period of construction or other acquisition estimated by the board and one year thereafter and any other cost of any project, by providing for the payment of the amount capitalized from the proceeds of the securities.