2016 New Mexico Statutes
Chapter 22 - Public Schools
Article 19 - School Revenue Bonds
Section 22-19-6 - Report to state board department.
22-19-6. Report to state board [department].
Prior to borrowing any money to finance an income project, a local school board shall furnish to the state board [department] the following information:
A. a detailed description of the income project;
B. an explanation of the necessity for the income project;
C. an estimate of the total cost of the income project;
D. an estimate of the amount of income anticipated from the income project;
E. an estimate of the amount of income from existing buildings, improvements or facilities that will be pledged to pay for the income project;
F. an estimate of the yearly operating cost of the income project; and
G. an estimate of the anticipated yearly net income from the income project.
History: 1953 Comp., 77-16-6, enacted by Laws 1967, ch. 16, 245.
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