Section 19-4-20 - Disposition of proceeds. - New Mexico Statutes

19-4-20. Disposition of proceeds.

The proceeds received from the sale shall be disposed of as follows:   

A.     first, to pay the expenses of the sale;   

B.     second, to discharge any outstanding claims incurred in entering the townsite of the town; and   

C.     third, the surplus, if any, shall be retained by the town trustees to be used for making improvements within the townsite for public purposes.