Section 4-50-9 - Expenditure of funds raised under prior law. - New Mexico Statutes

4-50-9. [Expenditure of funds raised under prior law.]

All county flood funds now on hand shall be held and disbursed subject to the provisions of this act [4-50-1 to 4-50-9 NMSA 1978]. All moneys in the county flood fund of the respective counties affected by this act, levied under the provisions of Section 1308 of the Compiled Laws of 1915, of the state of New Mexico, shall be held, applied and expended in accordance with the terms and provisions of this act.