New Mexico § 22-19A-5 Report to state board [department]; state board approval

New Mexico Statutes

§ 22-19A-5 — Report to state board [department]; state board approval

New Mexico § 22-19A-5

Ch. 22Public Schools

Art. 19ATeacher Housing Revenue Bond

This text of New Mexico § 22-19A-5 (Report to state board [department]; state board approval) 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. § 22-19A-5 (2026).

Text

A. Prior to issuing bonds to finance a housing project, a local school board shall furnish to the state board [department] the following information:

(1)a detailed description of the housing project;

(2)an explanation of the necessity for the housing project;

(3)an estimate of the total cost of the housing project;

(4)an estimate of the net income from the housing project and other revenues that will be pledged to pay for the housing project; and (5) an estimate of the yearly operating cost of the housing project. B. A local school board shall obtain written approval of the state board [department] before it issues bonds to finance a housing project pursuant to the Teacher Housing Revenue Bond Act. C. Prior to giving written approval to a housing project, the state board [department] s

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A. Prior to issuing bonds to finance a housing project, a local school board shall furnish to the state board [department] the following information: (1) a detailed description of the housing project; (2) an explanation of the necessity for the housing project; (3) an estimate of the total cost of the housing project; (4) an estimate of the net income from the housing project and other revenues that will be pledged to pay for the housing project; and (5) an estimate of the yearly operating cost of the housing project. B. A local school board shall obtain written approval of the state board [department] before it issues bonds to finance a housing project pursuant to the Teacher Housing Revenue Bond Act. C. Prior to giving written approval to a housing project, the state board [department] shall determine that the housing project is necessary and that estimated pledgeable revenue pledged to the bonds is sufficient to repay the bonds.