New Mexico Constitution
Article IX - State, County and Municipal Indebtedness
§ 1 Debts of territory and its counties assumed.
Universal Citation: NM Const art IX § 1
The state hereby assumes the debts and liabilities of the territory of New Mexico, and the debts of the counties thereof, which were valid and subsisting on June twentieth, nineteen hundred and ten, and pledges its faith and credit for the payment thereof. The legislature shall, at its first session, provide for the payment or refunding thereof by the issue and sale of bonds, or otherwise.
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