New Mexico Statutes
§ 71-10-9 — Bonds not obligation of the state or a county
Except as otherwise provided in the Electric Generating Facility Economic District Act, all bonds or other obligations issued pursuant to that act are payable solely from the revenues of the district that may be pledged to the payment of such obligations, and the bonds or other obligations shall not create an obligation, debt or liability of the state or any other of its political subdivisions. No breach of any pledge, obligation or agreement or a district shall impose a pecuniary liability or a charge upon the general credit or taxing power of the state or any other of its political subdivisions.
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New Mexico § 71-10-9 (Bonds not obligation of the state or a county) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Laws 2020, ch. 78, § 9.
Nearby Sections
15
§ 71-10-1
Short title§ 71-10-10
Dissolution§ 71-10-11
Limitation of applicability§ 71-10-2
Definitions§ 71-10-3
Creation of a district§ 71-10-5
Authority; powers; duties§ 71-10-7
Bonding authority§ 71-10-8
Refunding bonds§ 71-2-10
Repealed§ 71-2-8
Confidentiality; penalty