A. A city shall have power to issue bonds from time to time, in its discretion for the purpose of financing, in whole or in part, the cost of any project.
B. A city shall also have the power to issue refunding bonds from time to time for the purpose of refunding, paying and retiring:
(1) any bonds issued by it pursuant to the Greater Municipality Parking Law or pursuant to Laws 1963, Chapter 313, as amended and supplemented;
(2) any bonds authorized for parking facilities and payable from the revenues of any parking facilities;
(3) any bonds authorized for parking facilities and payable from any parking meter revenues;
(4) any sales tax revenue bonds authorized for the purpose of any public building to be used for parking facilities and pursuant to Section 3-31-1C NMSA 1978;
(5) any gasoline tax revenue bonds authorized for the purpose of any public building to be used for parking facilities and pursuant to Section 3-31-1D NMSA 1978 [3-31-1E NMSA 1978];
(6) any bonds authorized for parking facilities and payable from any combination of the income and revenue pledged to the bonds described in Paragraphs (1) through (5) of this Subsection B; or
(7) any bonds which have refunded the bonds described in Paragraphs (1) through (6) of this Subsection B.
C. A city shall also have the power to issue bonds for any combination of the purposes described in this section.
History: 1953 Comp., § 14-52-29, enacted by Laws 1971, ch. 173, § 17.
Repeals and reenactments. — Laws 1971, ch. 173, § 17, repealed 14-52-29, 1953 Comp., relating to power to issue bonds, and enacted a new section.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Laws 1963, Chapter 313, referred to in Paragraph (1) of Subsection B, was repealed by Laws 1965, ch. 300, § 595. Section 3-31-1 NMSA 1978 was amended in 1983, redesignating former Subsection D of 3-31-1 NMSA 1978 as Subsection E.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 C.J.S. Municipal Corporations § 1902.
Structure New Mexico Statutes
Article 51 - Greater Municipality Parking
Section 3-51-1 - Greater Municipality Parking Law; short title.
Section 3-51-2 - Finding and declaration of necessity.
Section 3-51-4 - Creation of parking authorities.
Section 3-51-5 - Powers of city.
Section 3-51-6 - Interested officers and employees.
Section 3-51-7 - Planning, zoning and building laws.
Section 3-51-8 - Lease of parking facilities.
Section 3-51-9 - Formation of district by governing body; provisional order.
Section 3-51-10 - Formation of district by petition.
Section 3-51-11 - Formation of district; provisional order hearing; notice.
Section 3-51-12 - Formation of district; provisional order hearing; conduct; appeal.
Section 3-51-13 - Formation of district; ordinance forming district.
Section 3-51-14 - Preliminary fund assessment; purpose; limit.
Section 3-51-15 - Levying, collecting and use of preliminary fund assessment.
Section 3-51-16 - Determination of location, size and nature of project.
Section 3-51-17 - Preparation of plans and estimates.
Section 3-51-19 - Appraisal of benefits.
Section 3-51-20 - Preparation of assessment rolls.
Section 3-51-21 - Inclusion of benefited property not within the proposed boundaries.
Section 3-51-22 - Notice of hearing; revision or confirmation of assessment; levy; court action.
Section 3-51-23 - Alternative assessment procedure; annual levies.
Section 3-51-24 - Lien for assessments.
Section 3-51-25 - Payment; interest; penalties.
Section 3-51-26 - Personal liability of owners for indebtedness.
Section 3-51-27 - Recording of claim of lien.
Section 3-51-28 - Enforcement of lien.
Section 3-51-29 - Real property in more than one district.
Section 3-51-30 - Real property in more than one district; maximum assessments.
Section 3-51-31 - Real property in more than one district; objections; notice; hearing.
Section 3-51-32 - Power to issue bonds.
Section 3-51-33 - Refunding bonds.
Section 3-51-34 - Liability of bonds; prohibition on impairment of payment.
Section 3-51-35 - Bonds; special funds from which payable.
Section 3-51-36 - Form and sale of bonds.
Section 3-51-37 - Provisions of bonds and trust indentures.
Section 3-51-38 - Construction of bond provisions.
Section 3-51-39 - Filing proceedings with attorney general.
Section 3-51-40 - Remedies of an obligee.
Section 3-51-41 - Additional remedies conferrable to an obligee.
Section 3-51-42 - Bonds; exemption from taxation.
Section 3-51-43 - Aid from federal government.
Section 3-51-44 - Contracts; leases; increase of revenue.
Section 3-51-45 - Greater Municipality Parking Law controlling.
Section 3-51-46 - Passenger motor vehicle of a person with a disability; parking privilege.