New Mexico § 5-3-4 [Terms and conditions of bonds; sale.]

New Mexico Statutes

§ 5-3-4 — [Terms and conditions of bonds; sale.]

New Mexico § 5-3-4

Ch. 5Municipalities and Counties

Art. 3Auditoriums

This text of New Mexico § 5-3-4 ([Terms and conditions of bonds; sale.]) 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. § 5-3-4 (2026).

Text

Revenue bonds issued under the provisions of this act [5-3-1 to 5-3-8 NMSA 1978] shall bear interest at not to exceed four and one-half (4 ½) per cent per annum, payable annually or semiannually, shall be payable at the option of such municipality at the end of ten years from date thereof; and due by their terms in not more than twenty years from date thereof; as determined by the municipality; shall be serial in form and maturity and numbered from one upward, consecutively, and shall be sold for cash, at not less than par, and at either public or private sale.

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Revenue bonds issued under the provisions of this act [5-3-1 to 5-3-8 NMSA 1978] shall bear interest at not to exceed four and one-half (4 ½) per cent per annum, payable annually or semiannually, shall be payable at the option of such municipality at the end of ten years from date thereof; and due by their terms in not more than twenty years from date thereof; as determined by the municipality; shall be serial in form and maturity and numbered from one upward, consecutively, and shall be sold for cash, at not less than par, and at either public or private sale.