The governing body of any municipality may, by ordinance, establish a "street improvement fund" into which may be placed all or any part of the distributions of the amounts of tax revenues distributed to the municipality under the provisions of Section 7-1-6.9 NMSA 1978 as the governing body has, in any ordinance, determined necessary for use as a fund in the financing of street improvement projects within the municipality.
History: 1953 Comp., § 14-33-1, enacted by Laws 1965, ch. 300; 1967, ch. 170, § 1; 1977, ch. 342, § 1; 1983, ch. 211, § 1.
ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 63 C.J.S. Municipal Corporations §§ 1042 to 1047.