Money obtained or borrowed under the provisions hereof shall be expended only in the betterment, extension, construction, operation, reconstruction and repair of the canal, irrigation system and physical works of the district, and for the payment or retirement of any or all existing indebtedness not evidenced by outstanding bonds, and in any such expenditures made by the district the tender [lender] of the monies shall not be responsible for the application or expenditure thereof. History: Laws 1933, ch. 52, § 8; 1941, ch. 112, § 1; 1941 Comp., § 77-2515; 1953 Comp., § 75-26-15. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
New Mexico Legal Code