2009 New Mexico Statutes
Chapter 5 - Municipalities and Counties.
Article 3 - Auditoriums
Section 5-3-3 - Auditorium revenue bonds; mortgage or lien to secure payment.
5-3-3. [Auditorium revenue bonds; mortgage or lien to secure payment.]
Whenever it shall be declared necessary by the governing body, by ordinance duly adopted, as hereinafter provided, municipalities are hereby authorized to make and issue revenue bonds, payable solely out of the net income to be derived from the operation of an auditorium, and to pledge irrevocably, such income to the payment thereof, and to execute a mortgage or other lien upon the auditorium premises to secure the payment of said bonds.
Disclaimer: These codes may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
