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Section 5-7-2 - Definitions.

NM Stat § 5-7-2 (2019) (N/A)
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As used in the Fire District Bond Act:

A. "fire district bonds" means the bonds authorized in the Fire District Bond Act;

B. "governing body" means the board of county commissioners of a county or the city council, city commission or board of trustees of a municipality;

C. "pledged revenues" means the revenues, net income or net revenues authorized to be pledged to the payment of particular bonds as specifically provided in Section 3 [5-7-3 NMSA 1978] of the Fire District Bond Act; and

D. "project revenues" means the net revenues of the fire district as well as revenues received by the fire district from the fire protection fund as provided in Sections 59-15-1 through 59-15-18 NMSA 1978 [repealed], which may be pledged to fire district bonds pursuant to Subsection B of Section 3 of the Fire District Bond Act.

History: Laws 1983, ch. 162, § 2.

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

Sections 59-15-1 through 59-15-18 NMSA 1978, relating to the fire protection fund, were repealed by Laws 1984, ch. 127, § 997. For present comparable provisions, see Chapter 59A, Article 53 NMSA 1978.

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Section 5-7-3 - Fire district bonds; authority to issue; pledge of revenues; limitation on time of issuance.