Section 4-55A-40 - Street and road improvement fund authorization. - New Mexico Statutes

4-55A-40. Street and road improvement fund authorization.

In the case of creation of a county improvement district in accordance with the provisions of the County Improvement District Act [Chapter 4, Article 55A NMSA 1978], the board of county commissioners of any county may, by ordinance, establish a street and road improvement fund into which may be transferred all or any part of the distributions of such amounts of the tax revenues distributed to the county under the provisions of Section 7-1-6.9 NMSA 1978 as the board has, in any ordinance, determined necessary for use as a fund in the financing of improvement projects described in Subsection A of Section 4-55A-4 NMSA 1978.