New Mexico § 3-60A-33 Revenue bonds; bond security

New Mexico Statutes

§ 3-60A-33 — Revenue bonds; bond security

New Mexico § 3-60A-33

Ch. 3Municipalities

Art. 60AMetropolitan Redevelopment

This text of New Mexico § 3-60A-33 (Revenue bonds; bond security) 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. § 3-60A-33 (2026).

Text

The principal of, the interest on and any prior redemption premiums due in connection with the revenue bonds shall be payable from, secured by a pledge of and constitute a lien on the revenues out of which the bonds shall be made payable. In addition, they may be secured by a mortgage covering all or any part of the project or upon any other property of the user or both by a pledge of the revenues from or a financing agreement for the project or both as the local government in its discretion may determine; but no local government shall be authorized by the Redevelopment Bonding Law [3-60A-26 through 3-60A-46 NMSA 1978] to pledge any of its property or to otherwise secure the payment of any bonds with its property, except that the local government may pledge the revenues from the project.

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The principal of, the interest on and any prior redemption premiums due in connection with the revenue bonds shall be payable from, secured by a pledge of and constitute a lien on the revenues out of which the bonds shall be made payable. In addition, they may be secured by a mortgage covering all or any part of the project or upon any other property of the user or both by a pledge of the revenues from or a financing agreement for the project or both as the local government in its discretion may determine; but no local government shall be authorized by the Redevelopment Bonding Law [3-60A-26 through 3-60A-46 NMSA 1978] to pledge any of its property or to otherwise secure the payment of any bonds with its property, except that the local government may pledge the revenues from the project.