2019 New Mexico Statutes
Chapter 3 - Municipalities
Article 51 - Greater Municipality Parking
Section 3-51-35 - Bonds; special funds from which payable.
In order to carry out the purposes of the Greater Municipality Parking Law, a city upon enactment of a proper ordinance may issue bonds for any purposes permitted by Section 3-51-32 NMSA 1978 and may pledge irrevocably to the payment of the principal of and interest on such bonds, the following special funds:
A. all or any part of special assessments levied upon real property within a parking district formed for the particular project financed with the proceeds of such bonds; or
B. all or any part of the income and revenues of the particular project financed with the proceeds of the bonds; or
C. all or any part of the income and revenue of certain designated parking facilities whether or not they were financed in whole or in part with the proceeds of the bonds; or
D. all or any part of the parking meter revenues of the city; or
E. all or any part of the amount of money remitted to the city as authorized by Section 7-1-6 NMSA 1978; or
F. all or any part or [of] the proceeds distributed to the city pursuant to Section 64-26-19 NMSA 1953 [repealed]; or
G. all or any part or [of] the proceeds of any tolls, rates, fees, charges, license taxes, other excise taxes, or quasi-excise taxes legally available therefor which the city is empowered to fix, levy and collect; or
H. any combination of these special funds specified in Subsections A through F, even if, in the case of refunding bonds, any of such special funds were not pledged to the payment of the bonds being refunded.
History: 1953 Comp., § 14-52-31, enacted by Laws 1971, ch. 173, § 20.
ANNOTATIONSRepeals and reenactments. — Laws 1971, ch. 173, § 20, repealed 14-52-31, 1953 Comp., relating to types of bonds and sources from which payable, and enacted the above section.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Laws 1971, ch. 207, § 16 repealed 64-26-19, 1953 Comp., cited in Subsection F.
