2011 New Mexico Statutes
Chapter 4: Counties
Article 49: Bonds for Courthouses, Jails, Bridges, Hospitals and Libraries, 4-49-1 through 4-49-21
Section 4-49-7: General obligation bonds; authority to issue.

4-49-7. General obligation bonds; authority to issue.

The boards of county commissioners may issue the general obligation bonds of the county in any sum necessary, not greater than four percent, inclusive of all other bonded indebtedness, of the assessed value of the taxable property of the county, for the purpose of building courthouses, jails, bridges, hospitals, public libraries, facilities for the holding of county fairs, cultural facilities, purchasing books or other library resources, building juvenile detention homes, athletic facilities, parking structures, administrative facilities, facilities for housing equipment, repairing equipment and servicing equipment and sewerage facilities, constructing or repairing public roads and for construction and acquisition of water, sewer or sanitary landfill systems and airports.