Governing bodies of municipalities issuing bonds under the provisions of this act [5-3-1 to 5-3-8 NMSA 1978], may authorize the issuance thereof by ordinance adopted by the affirmative vote of two-thirds of all the members of said governing bodies, at either regular or special meeting called for that purpose, wherein the necessity thereof shall be declared and, when issued, shall be signed by the mayor or other executive head and attested by the clerk of said governing body, with the seal of said municipality affixed thereto.
History: Laws 1935, ch. 51, art. 1, § 5; 1941 Comp., § 6-305; 1953 Comp., § 6-3-5.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 64A C.J.S. Municipal Corporations § 1699.
Structure New Mexico Statutes
Chapter 5 - Municipalities and Counties
Section 5-3-3 - [Auditorium revenue bonds; mortgage or lien to secure payment.]
Section 5-3-4 - [Terms and conditions of bonds; sale.]
Section 5-3-5 - [Issuance of bonds; execution.]
Section 5-3-6 - [Lease of auditorium by municipality.]
Section 5-3-7 - [Ratification of issuance and sale of bonds by electorate.]
Section 5-3-8 - [Public Works Act not affected.]
Section 5-3-10 - [Use of auditorium.]
Section 5-3-11 - Counties authorized to issue bonds and erect public auditoriums.
Section 5-3-12 - [Application of courthouse building laws.]
Section 5-3-13 - [Federal aid and other donations authorized.]