New Mexico § 5-5-7 Borrowing money and securities evidencing loans

New Mexico Statutes

§ 5-5-7 — Borrowing money and securities evidencing loans

New Mexico § 5-5-7

Ch. 5Municipalities and Counties

Art. 5Joint City-County Building

This text of New Mexico § 5-5-7 (Borrowing money and securities evidencing loans) 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. § 5-5-7 (2026).

Text

Any county and city shall each have the power, separately and severably from time to time to borrow money and issue the following securities to evidence such loans, to finance in whole or in part the cost of any project or any part thereof: short-term notes; general obligation bonds, maturing serially is [in] not to exceed thirty years from the date thereof; and revenue bonds, maturing serially is [in] not to exceed forty years from the date thereof.

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Any county and city shall each have the power, separately and severably from time to time to borrow money and issue the following securities to evidence such loans, to finance in whole or in part the cost of any project or any part thereof: short-term notes; general obligation bonds, maturing serially is [in] not to exceed thirty years from the date thereof; and revenue bonds, maturing serially is [in] not to exceed forty years from the date thereof.