2020 New Mexico Statutes
Chapter 5 - Municipalities and Counties
Article 4 - Playgrounds and Recreational Equipment
Section 5-4-8 - Power to issue bonds.
The governing body of any municipality is hereby authorized to issue and dispose of negotiable bonds thereof, subject to the limitation and in accordance with Article IX of the constitution, for the purpose of securing funds for the acquisition of lands or buildings for playgrounds, recreation centers, zoos and other recreational purposes and the equipment thereof, to the extent and in accordance with the provisions of Sections 14-40-16 through 14-40-21 NMSA 1953 [repealed].
History: 1941 Comp., § 71-1008, enacted by Laws 1945, ch. 67, § 8; 1953 Comp., § 6-4-8; Laws 1963, ch. 53, § 5.
ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Sections 14-40-16 to 14-40-21, NMSA 1953, referred to in this section, were repealed by Laws 1965, ch. 300, § 595. For present provisions, see 3-30-5 to 3-30-9 NMSA 1978.
Counties have no inherent power to issue bonds, and can do so only pursuant to statutory or constitutional authority. 1957 Op. Att'y Gen. No. 57-304.
School bonds legal where facilities attached to school grounds. — A school district could legally issue bonds for playground and recreational facilities which are to constitute part of the school grounds, but not in event they are to be entirely separate therefrom. 1948 Op. Att'y Gen. No. 48-5127.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 C.J.S. Municipal Corporations § 1571 et seq.
