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Section 5-5-7 - Borrowing money and securities evidencing loans.

NM Stat § 5-5-7 (2019) (N/A)
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Any county and city shall each have the power, separately and severably from time to time to borrow money and issue the following securities to evidence such loans, to finance in whole or in part the cost of any project or any part thereof:

short-term notes;

general obligation bonds, maturing serially is [in] not to exceed thirty years from the date thereof; and

revenue bonds, maturing serially is [in] not to exceed forty years from the date thereof.

History: 1953 Comp., § 6-9-7, enacted by Laws 1959, ch. 300, § 7.

Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.

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Section 5-5-6 - Agreements between county and city.
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Section 5-5-8 - Short-term notes.