NMSA 1978, § 7-24A-17 — Construction

The County and Municipal Gasoline Tax Act is full authority for authorization and
issuance of bonds. If [In] any proceeding involving the validity and enforceability of any
bond or its security, any bond reciting in substance that it was issued by the county or
municipality to aid in financing public transit or transportation projects or any other
purpose authorized by the County and Municipal Gasoline Tax Act is conclusively
presumed to have been issued for a county or municipal transit or transportation project
or other purpose in accordance with that act.