Any county and city shall each have the power, separately and severably from time to time to borrow money and issue the following securities to evidence such loans, to finance in whole or in part the cost of any project or any part thereof:
short-term notes;
general obligation bonds, maturing serially is [in] not to exceed thirty years from the date thereof; and
revenue bonds, maturing serially is [in] not to exceed forty years from the date thereof.
History: 1953 Comp., § 6-9-7, enacted by Laws 1959, ch. 300, § 7.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Structure 2021 New Mexico Statutes
Chapter 5 - Municipalities and Counties
Article 5 - Joint City-County Building
Section 5-5-2 - Legislative declaration.
Section 5-5-4 - Jointly owned projects.
Section 5-5-5 - Powers of county and city.
Section 5-5-6 - Agreements between county and city.
Section 5-5-7 - Borrowing money and securities evidencing loans.
Section 5-5-8 - Short-term notes.
Section 5-5-9 - Limitations upon incurring debts.
Section 5-5-10 - General obligation bond and debt elections.
Section 5-5-11 - Authorization of bonds.
Section 5-5-12 - Payment of bonds.
Section 5-5-13 - Municipality's limited liability on bonds and recital therein.
Section 5-5-14 - Incontestable recital in bonds.
Section 5-5-15 - Form of bonds.
Section 5-5-16 - Alternate bond form.
Section 5-5-17 - Execution of bonds.
Section 5-5-18 - Sale of bonds.
Section 5-5-19 - Application of proceeds.
Section 5-5-20 - Covenants in bond proceedings.
Section 5-5-21 - Remedies of bondholders.
Section 5-5-23 - Revenue bond charges.
Section 5-5-24 - Pledging of occupation taxes.
Section 5-5-25 - Exemption from taxation.