New Mexico § 7-24A-18 Additional security

New Mexico Statutes

§ 7-24A-18 — Additional security

New Mexico § 7-24A-18

Ch. 7Taxation

Art. 24ACounty and Municipal Gasoline Tax

This text of New Mexico § 7-24A-18 (Additional 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. § 7-24A-18 (2026).

Text

To further the marketability of bonds, the ordinance authorizing their issue may: A. secure their payment by deed of trust or mortgage conveying county or municipally owned land and improvements acquired for the public transit facility operation or use from the proceeds of the bonds to a trustee for the benefit and security of the bondholders; and B. authorize any other security agreement not in conflict with law.

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To further the marketability of bonds, the ordinance authorizing their issue may: A. secure their payment by deed of trust or mortgage conveying county or municipally owned land and improvements acquired for the public transit facility operation or use from the proceeds of the bonds to a trustee for the benefit and security of the bondholders; and B. authorize any other security agreement not in conflict with law.