New Mexico Statutes 3-34-4. Street improvement fund; diverting proceeds from tax
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After the adoption of the ordinance creating a contract as authorized in Section 3-34- 3 NMSA 1978, and so long as the contract is effective, it is unlawful:
Terms Used In New Mexico Statutes 3-34-4
- Contract: A legal written agreement that becomes binding when signed.
A. to, directly or indirectly, divert any such amounts of tax revenue directed to be credited to the street improvement fund; and
B. without the written approval of the secretary of finance and administration, for the governing body or any municipal employee to expend any money from the street improvement fund for any purpose other than the performance of the contract.