State Codes and Statutes

Statutes > New-mexico > Chapter-5 > Article-15 > Section-5-15-20-1

5-15-20.1. Debt service reserve account.

After the retirement of all bonds issued pursuant to the tax increment development plan, any balance in a debt service reserve account established for the payment of those bonds shall be paid to the governments that have dedicated a tax increment to the district in proportion to the amount of tax increment attributable to their dedication.

State Codes and Statutes

Statutes > New-mexico > Chapter-5 > Article-15 > Section-5-15-20-1

5-15-20.1. Debt service reserve account.

After the retirement of all bonds issued pursuant to the tax increment development plan, any balance in a debt service reserve account established for the payment of those bonds shall be paid to the governments that have dedicated a tax increment to the district in proportion to the amount of tax increment attributable to their dedication.


State Codes and Statutes

State Codes and Statutes

Statutes > New-mexico > Chapter-5 > Article-15 > Section-5-15-20-1

5-15-20.1. Debt service reserve account.

After the retirement of all bonds issued pursuant to the tax increment development plan, any balance in a debt service reserve account established for the payment of those bonds shall be paid to the governments that have dedicated a tax increment to the district in proportion to the amount of tax increment attributable to their dedication.