New Mexico § 3-24-6 Electric utility; power to issue revenue bonds

New Mexico Statutes

§ 3-24-6 — Electric utility; power to issue revenue bonds

New Mexico § 3-24-6

Ch. 3Municipalities

Art. 24Electric Utility

This text of New Mexico § 3-24-6 (Electric utility; power to issue revenue bonds) 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. § 3-24-6 (2026).

Text

A.A municipality may issue electric utility revenue bonds as provided in Sections 3- 31-1 through 3-31-12 NMSA 1978. The proceeds from the sale of the electric utility revenue bonds are to be used solely for the purpose of purchasing, acquiring, constructing and making necessary improvements, extensions, repairs and betterments of the electric utility.

B.The electric utility revenue bonds are to be paid solely from the net income derived from the operation of the electric utility.

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A. A municipality may issue electric utility revenue bonds as provided in Sections 3- 31-1 through 3-31-12 NMSA 1978. The proceeds from the sale of the electric utility revenue bonds are to be used solely for the purpose of purchasing, acquiring, constructing and making necessary improvements, extensions, repairs and betterments of the electric utility. B. The electric utility revenue bonds are to be paid solely from the net income derived from the operation of the electric utility.