73-10-47: [Employees' pensions; group insurance; employers' liability insurance.]

Any irrigation district is authorized to create out of its general funds a fund to pension old or incapacitated employees, to make reasonable reservations out of wages and salaries of employees for creation, augmentation or support of such a fund and to provide out of its general fund or any other fund created for such purpose, the premiums for group insurance or for employers' liability insurance now required by the laws of New Mexico or which hereafter may be required by said laws.