New Mexico § 4-3A-14 Certificates of indebtedness

New Mexico Statutes

§ 4-3A-14 — Certificates of indebtedness

New Mexico § 4-3A-14

Ch. 4Counties

Art. 3ACibola County

This text of New Mexico § 4-3A-14 (Certificates of indebtedness) 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. § 4-3A-14 (2026).

Text

For the purpose of meeting expenses payable out of the general county fund of the county of Cibola, contracted and payable for the seventieth fiscal year, and not otherwise, the county of Cibola may issue certificates of indebtedness of the county of Cibola not to exceed one million dollars ($1,000,000), and tax levies shall be duly made therefor. The certificates of indebtedness shall be issued in a form to be approved by the state board of finance and shall be payable not more than ten years after date of issue. The certificates of indebtedness shall bear interest at a rate not to exceed that permitted by the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978]. The proceeds of the tax levy shall be pledged to the payment of the principal and interest of the certificates when they fall due

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For the purpose of meeting expenses payable out of the general county fund of the county of Cibola, contracted and payable for the seventieth fiscal year, and not otherwise, the county of Cibola may issue certificates of indebtedness of the county of Cibola not to exceed one million dollars ($1,000,000), and tax levies shall be duly made therefor. The certificates of indebtedness shall be issued in a form to be approved by the state board of finance and shall be payable not more than ten years after date of issue. The certificates of indebtedness shall bear interest at a rate not to exceed that permitted by the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978]. The proceeds of the tax levy shall be pledged to the payment of the principal and interest of the certificates when they fall due.