A. At any regular or special meeting called for the purpose of issuing refunding revenue bonds, the governing body by a majority vote of all the members of the governing body may adopt an ordinance authorizing the issuance of the refunding revenue bonds.
B. At any regular or special meeting called for the purpose of issuing and selling refunding revenue bonds to the New Mexico finance authority, the governing body by an affirmative vote of a majority of all members of the governing body may adopt a resolution authorizing issuance and sale of the refunding revenue bonds to the New Mexico finance authority pursuant to Subsection C of Section 3-31-4 NMSA 1978.
History: 1953 Comp., § 14-30-10, enacted by Laws 1965, ch. 300; 1995, ch. 141, § 7.
The 1995 amendment, effective April 5, 1995, designated the existing language as Subsection A and added Subsection B.
Structure New Mexico Statutes
Section 3-31-1.1 - Definitions.
Section 3-31-2 - Use of proceeds of bond issue.
Section 3-31-3 - Revenue bonds; terms.
Section 3-31-3.1 - Exemption from taxation.
Section 3-31-5 - Revenue bonds not general municipal obligations; authentication.
Section 3-31-7 - Revenue bonds; mortgaging water utility property.
Section 3-31-8 - Revenue bonds; refunding authorization; authority to mortgage municipal utility.
Section 3-31-9 - Refunding bonds; escrow; detail.
Section 3-31-10 - Refunding revenue bonds; terms.
Section 3-31-11 - Refunding revenue bonds; ordinance; resolution.
Section 3-31-12 - Refunding revenue bonds; foreclosure of mortgage.