{"data":{"id":"us-nm/22-19-8","jurisdiction":"us-nm","citation":"22-19-8","heading":"Records; restriction on use of income.","body":"A. A local school board shall retain complete and accurate records of:\n(1) the net income from the income project; and\n(2) the operating costs of the income project.\nB. All income from the income project shall be used solely for the following purposes:\n(1) to pay the principal, interest and service charges on any bonds or other special obligations issued pursuant to the School Revenue Bond Act; and\n(2) to pay the operating costs of the income project.","path":["Chapter 22 - Public Schools","ARTICLE 19 School Revenue Bonds"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18522/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"787199a5f240c1d13563d55af3bede1965edf0949b1827346b1fe9e259d61cc7","source_id":"us-nm","stale":false,"prev":"us-nm/22-19-7","next":"us-nm/22-19-9"},"notice":"GroundRules: Original legal text. Not legal advice."}