N.M. Stat. § 22-19-4

Current through 2024, ch. 69

Section 22-19-4 - Bonds; mortgages

A. A local school board may issue bonds or other special obligations to finance the repayment of all money borrowed for an income project pursuant to the School Revenue Bond Act.

B. A local school board may execute a mortgage, deed of trust or a security agreement upon the income project to secure payment of any bonds or other special obligations issued pursuant to the School Revenue Bond Act.

NMS § 22-19-4

1953 Comp., § 77-16-4, enacted by Laws 1967, ch. 16, § 243.