New Mexico § 6-35-9 Tax modifications; bond terms; expiration

New Mexico Statutes

§ 6-35-9 — Tax modifications; bond terms; expiration

New Mexico·Ch. 6 Public Finances·Art. 35 State Fairgrounds District

A.Nothing in the State Fairgrounds District Act shall prohibit the legislature from modifying any tax, including increasing or decreasing a tax. The terms and conditions of any bond issued by the district pursuant to that act shall explicitly provide that the repayment of such bonds, including interest and principal, is subject to modifications to taxes imposed by the state.

B.The terms of bonds issued pursuant to the State Fairgrounds District Act, including refunding bonds, shall expire not more than twenty-five years after the date that the first bonds are issued for the district.

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A. Nothing in the State Fairgrounds District Act shall prohibit the legislature from modifying any tax, including increasing or decreasing a tax. The terms and conditions of any bond issued by the district pursuant to that act shall explicitly provide that the repayment of such bonds, including interest and principal, is subject to modifications to taxes imposed by the state. B. The terms of bonds issued pursuant to the State Fairgrounds District Act, including refunding bonds, shall expire not more than twenty-five years after the date that the first bonds are issued for the district.

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