No revenues collected from the ad valorem tax authorized herein shall be used for the payment of any interest or principal on bonds hereafter sold under any option existing at the time of the passage of this act [73-16-41 to 73-16-49 NMSA 1978] for the purchase of bonds of any conservancy district. History: Laws 1931, ch. 50, § 8; 1941 Comp., § 77-2947; 1953 Comp., § 75-30-47. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Temporary provisions. — Laws 1931, ch. 50, §§ 9 to 12, provided for the extension of time for payment of assessments and for the issuance of debentures.
New Mexico Legal Code