Whenever the treasurer of the authority shall redeem and pay any of the securities issued under the provisions hereof, he shall cancel the same by writing across the face thereof or stamping thereon the word 'paid,' together with the date of its payment, sign his name thereto, and transmit the same to the secretary of the authority, taking his receipt therefor, which receipt shall be filed in the records of the authority. The secretary shall credit the treasurer on his books for the amount so paid. History: 1953 Comp., § 75-38-79, enacted by Laws 1967, ch. 156, § 79. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 94 C.J.S. Waters § 330.
New Mexico Legal Code