New Mexico § 22-19-6 Report to state board [department]

New Mexico Statutes

§ 22-19-6 — Report to state board [department]

New Mexico § 22-19-6

Ch. 22Public Schools

Art. 19School Revenue Bonds

This text of New Mexico § 22-19-6 (Report to state board [department]) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 22-19-6 (2026).

Text

Prior to borrowing any money to finance an income project, a local school board shall furnish to the state board [department] the following information: A. a detailed description of the income project; B. an explanation of the necessity for the income project; C. an estimate of the total cost of the income project; D. an estimate of the amount of income anticipated from the income project; E. an estimate of the amount of income from existing buildings, improvements or facilities that will be pledged to pay for the income project; F. an estimate of the yearly operating cost of the income project; and G. an estimate of the anticipated yearly net income from the income project.

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Prior to borrowing any money to finance an income project, a local school board shall furnish to the state board [department] the following information: A. a detailed description of the income project; B. an explanation of the necessity for the income project; C. an estimate of the total cost of the income project; D. an estimate of the amount of income anticipated from the income project; E. an estimate of the amount of income from existing buildings, improvements or facilities that will be pledged to pay for the income project; F. an estimate of the yearly operating cost of the income project; and G. an estimate of the anticipated yearly net income from the income project.