New Mexico Statutes
§ 3-24-6 — Electric utility; power to issue revenue bonds
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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New Mexico § 3-24-6 (Electric utility; power to issue revenue bonds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
1953 Comp., § 14-23-6, enacted by Laws 1965, ch. 300.
Nearby Sections
15
§ 3-1-1
Municipalities; short title§ 3-1-2
Definitions§ 3-1-6
Final day to act§ 3-10-4
Repealed§ 3-10-5
Repealed§ 3-10-8
Officers; delivery of records§ 3-11-1
Applicability