New Mexico Statutes
§ 22-19A-3 — Bonds not general obligations of school district or state
A.A local school board may issue bonds to finance the purchase, construction, renovation, equipping and furnishing of a housing project and may irrevocably pledge any or all pledgeable revenue to the payment of those bonds and to the debt service reserve fund if one is established for the bonds.
B.Bonds shall be payable solely from pledgeable revenue and shall not constitute an indebtedness or general obligation of the school district, the state or other political subdivisions of the state.
Free access — add to your briefcase to read the full text and ask questions with AI
New Mexico § 22-19A-3 (Bonds not general obligations of school district or state) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Laws 2002, ch. 22, § 3.
Nearby Sections
15
§ 22-1-1
Public School Code§ 22-1-1.1
Legislative findings and purpose§ 22-1-1.2
Legislative findings and purpose§ 22-1-11
Educational data system§ 22-1-16
Parental guidance for water safety§ 22-1-2
Definitions§ 22-1-2.1
Home school; requirements