Debt service reserve account

NMSA 1978, § 5-15-20.1 — under Article 15.

NMSA 1978, § 5-15-20.1

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. History: Laws 2009, ch. 179, § 8.