A. The authority may create and establish one or more reserve funds. B. The authority may create and establish other reserve funds as it deems advisable and necessary. History: 1953 Comp., § 13-19-12, enacted by Laws 1975, ch. 303, § 12; 1995, ch. 9, § 22. ANNOTATIONSThe 1995 amendment, effective June 16, 1995, deleted former provisions of Subsection A relating to debt service reserve funds and made stylistic changes in Subsection B.
New Mexico Legal Code