New Mexico § 72-17-47 Payment of securities

New Mexico Statutes

§ 72-17-47 — Payment of securities

New Mexico § 72-17-47

Ch. 72Water Law

Art. 17Las Cruces Metropolitan Arroyo Flood Control

This text of New Mexico § 72-17-47 (Payment of securities) 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. § 72-17-47 (2026).

Text

All securities issued by the authority shall be authorized by resolution. The authority may pledge its full faith and credit for the payment of any securities herein authorized, the interest thereon, any prior redemption premium or premiums, and any charges appertaining thereto. Securities may constitute the direct and general obligations of the authority. Their payment may be secured by a specific pledge of tax proceeds and other revenues of the authority, in this act [Chapter 72, Article 17 NMSA 1978] sometimes referred to as "revenues" of the authority, as the board may determine.

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All securities issued by the authority shall be authorized by resolution. The authority may pledge its full faith and credit for the payment of any securities herein authorized, the interest thereon, any prior redemption premium or premiums, and any charges appertaining thereto. Securities may constitute the direct and general obligations of the authority. Their payment may be secured by a specific pledge of tax proceeds and other revenues of the authority, in this act [Chapter 72, Article 17 NMSA 1978] sometimes referred to as "revenues" of the authority, as the board may determine.