There is a newer version of the New Mexico Statutes
2015 New Mexico Statutes
Chapter 3 - Municipalities
Section 31 Revenue Bonds
Section 3-31-7 Revenue bonds; mortgaging water utility property.
NM Stat § 3-31-7 (2015) What's This?
3-31-7. Revenue bonds; mortgaging water utility property.
If revenue bonds are issued for the acquisition or improvement, betterment or extension of a municipal water utility, the municipality may further assure payment of the revenue bonds by mortgaging and conveying the water utility to a trustee for the benefit and security of the bondholders.
History: 1953 Comp., 14-30-7, enacted by Laws 1965, ch. 300.
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