The amounts distributed to the state road fund pursuant to Sections 7-1-6.10, 66-6-23 and 66-6-23.1 NMSA 1978 shall be used for maintenance, construction and improvement of state transportation projects and to meet federal allotments under the federal-aid road laws, but sufficient money from the state road fund shall be set aside each year by the state treasurer to pay the principal and interest due each year on state transportation revenue bonds issued to anticipate the collection of this revenue.
History: 1978 Comp., § 67-3-65.1, enacted by Laws 1983, ch. 211, § 40; 2003 (1st S.S.), ch. 3, § 25.
ANNOTATIONSThe 2003 (1st S.S.) amendment effective February 3, 2004, substituted "Sections 7-1-6.10, 66-6-23 and 66-6-23.1" for "Section 7-1-6.10," "state transportation projects" for "the public highways," and "due each year on state transportation revenue bonds" for "coupons of highway debentures," and deleted "as the principal and interest coupons mature" following "of this revenue" at the end.