New Mexico Statutes Chapter 62. Electric, Gas and Water Utilities § 62-21-8. Deposit public support money in special fund

A. A regional or local government that receives money from public support for an essential services project shall create a special fund into which the money from the public support shall be deposited and shall be expended only for essential services project purposes.  Separate accounts shall be established for each essential services project.

B. In the case of a regional government, money from public support may be expended only as provided by the regional government's essential services development plan and joint powers agreement.