There Is a Newer Version
of
the New Mexico Statutes
2011 New Mexico Statutes
Chapter 3: Municipalities
Article 52: Municipal Transit, 3-52-1 through 3-52-16
Section 3-52-1: Municipal Transit Law; short title.
Universal Citation:
NM Stat § 3-52-1 (1996 through 1st Sess 50th Legis)
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This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
3-52-10. Additional security.
To further the marketability of bonds, the ordinance authorizing their issue may:
A. secure their payment by deed of trust or mortgage conveying municipally owned land and improvements acquired for the public transit facility from the proceeds of the bonds to a trustee for the benefit and security of the bondholders; and
B. authorize any other security agreement not in conflict with law.
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