As used in the School District Bond Anticipation Notes Act:
A. "bond anticipation note" means a security evidencing an obligation of the school district that precedes the issuance of general obligation bonds; and
B. "general obligation bond" means indebtedness issued by a school district that constitutes a debt for the purpose of Article 9, Section 11 of the constitution of New Mexico.
History: Laws 2002, ch. 54, § 3.
Emergency clauses. — Laws 2002, ch. 54, § 11 contained an emergency clause and was approved March 4, 2002.
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