GroundRules
72-17-54: Limitations upon payment of securities.
Where this section sits in the code
- Chapter 72 - Water Law
- ARTICLE 17 Las Cruces Metropolitan Arroyo Flood Control
The payment of securities shall not be secured by an encumbrance, mortgage or other pledge of property of the authority, except for revenues, income, tax proceeds and other moneys pledged for the payment of securities. No property of the authority, subject to said exception, shall be liable to be forfeited or taken in payment of the securities.
Collected 2026-09-03T15:02:20Z. Source file · JSON