2011 New Mexico Statutes
Chapter 4: Counties
Article 48B: Hospital Funding, 4-48B-1 through 4-48B-29
Section 4-48B-18: Hospital revenue bonds; authority to issue; pledge of revenues.
4-48B-18. Hospital revenue bonds; authority to issue; pledge of revenues.
A. The counties agreeing jointly under Section 8 [9] [4-48B-9 NMSA 1978] of the Hospital Funding Act and the county or counties entering into an agreement with a municipality under Section 9 of the Hospital Funding Act may issue, separately, revenue bonds pursuant to that act for the purpose of constructing, purchasing, renovating, remodeling, equipping or re-equipping a county hospital and a jointly owned county-municipal hospital and the acquisition of land necessary therefor or any combination of the foregoing purposes.
B. The county or counties issuing revenue bonds pursuant to the Hospital Funding Act [this article] may pledge irrevocably all or a portion of the revenues derived from the operation of the county hospital or jointly owned county-municipal hospital and revenues derived from the leasing of or other contractual arrangement for the operation of a county hospital or jointly owned county-municipal hospital for the payment of principal and interest on the revenue bonds.
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