us-nm/stat
NMSA 1978, § 7-24A-15 — Terms of bonds
A.
The ordinance authorizing issuance of bonds shall specify:
(1) issuance in any number of series;
(2) maturity dates;
(3) interest payable on the bonds;
(4) denominations;
(5) form, either coupon or registered;
(6) conversion or registration privileges;
(7) rank or priority;
(8) manner of execution;
(9) if desirable, features of redemption, prior to maturity with or without
premium; and
(10) the terms, manner and medium of payment and redemption.
B.
No member of the governing body or any person executing bonds is personally
liable on any bond. All bonds are payable solely from the sources specified in the
authorizing ordinance. No bond is a debt, liability or general obligation of the issuing
county or municipality.
C.
The terms prescribed by the authorizing ordinance and by this section shall be
carried on the face of each bond.
Source: official text