{"data":{"id":"us-nm/4-55a-28","jurisdiction":"us-nm","citation":"4-55A-28","heading":"Transfer of improvement district funds.","body":"The board may transfer to the general fund of the county any money obtained from the levy of an assessment for an improvement district if:\nA. bonds or assignable certificates were issued to finance the improvement;\nB. the proceeds of the bonds or assignable certificates were spent for the improvement;\nC. the assessments were levied and collected for the payment of the bonds or assignable certificates; and\nD. either the bondholders or assignable certificate holders are barred by the statute of limitations or a court judgment or decree from collecting the indebtedness; or\nE. the bonded indebtedness or assignable certificates have been paid.","path":["Chapter 4 - Counties","ARTICLE 55A County Improvement Districts"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18505/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"c5dcdb05f241c90ff022c29384f1203bb07e2045d63b91274965181bf062010e","source_id":"us-nm","stale":false,"prev":"us-nm/4-55a-27","next":"us-nm/4-55a-29"},"notice":"GroundRules: Original legal text. Not legal advice."}