If the interest or any serial maturity of any bond is in default, any obligee may foreclose against the municipality under the same procedure provided for foreclosure of real estate mortgages. The district court may appoint a receiver to operate the airport facility in default.
History: 1953 Comp., ยง 14-40-11, enacted by Laws 1965, ch. 300.
Structure 2021 New Mexico Statutes
Article 39 - Municipal Airports
Section 3-39-1 - Municipal Airport Law.
Section 3-39-2 - Purpose of law.
Section 3-39-4 - Municipal airports.
Section 3-39-5 - Planning and zoning laws.
Section 3-39-6 - Irrepealable bond ordinance.
Section 3-39-7 - Refunding bonds.
Section 3-39-8 - Impairment of payment.
Section 3-39-9 - Terms of bonds.
Section 3-39-10 - Sale, exchange and details of bonds.
Section 3-39-11 - Construction.
Section 3-39-12 - Additional security.
Section 3-39-13 - Foreclosure.
Section 3-39-14 - Legal investments.
Section 3-39-15 - Tax exemptions.
Section 3-39-16 - [Municipal Airport Zoning Law.]
Section 3-39-17 - Definitions.
Section 3-39-18 - Airport hazards not in public interest.
Section 3-39-19 - Preparation of airport approach plans.
Section 3-39-20 - Adoption of airport zoning regulations.
Section 3-39-21 - Permits and variances.
Section 3-39-22 - Zoning regulations; procedure.
Section 3-39-23 - Judicial review.
Section 3-39-24 - Enforcement and remedies.
Section 3-39-25 - Removal of airport obstructions by municipalities.