New Mexico Constitution
Article IX - State, County and Municipal Indebtedness
§ 7 State indebtedness; purposes.
Universal Citation: NM Const art IX § 7
The state may borrow money not exceeding the sum of two hundred thousand dollars [($200,000)] in the aggregate to meet casual deficits or failure in revenue, or for necessary expenses. The state may also contract debts to suppress insurrection and to provide for the public defense.
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