Procedure for issuing industrial revenue bonds or

refunding bonds. Prior to the issuance of industrial revenue bonds or refunding bonds for acquisition or improvement of a water utility or a joint water utility, New Mexico public utility commission approval, as required by the Public Utility Act [Chapter 62, Articles 1 to 6 and 8 to 13 NMSA 1978], shall be obtained. H class counties shall obtain New Mexico public utility commission approval as required by Section 3-23-3 NMSA 1978. History: 1978 Comp., § 4-59-9.1, enacted by Laws 1992, ch. 11, § 2; 1993, ch. 282, § 13.