New Mexico Statutes
§ 3-52-9 — Construction
The Municipal Transit Law is full authority for authorization and issuance of bonds and no election is necessary. In any proceeding involving the validity and enforceability of any bond or its security, any bond reciting in substance that it was issued by the municipality to aid in financing public transit facilities is conclusively presumed to have been issued for a public transit facility planned, operated and used in accordance with the Municipal Transit Law.
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Legislative History
1953 Comp., § 14-53-9, 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Repealed§ 3-10-5
Repealed§ 3-10-8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