Partnertax.ai
Start free trial →

NMSA 1978 Chapter 7 — Taxation

NMSA 1978, § 7-24A-18

Additional security

Official textnmonesource.comlast amended

To further the marketability of bonds, the ordinance authorizing their issue may:

# A.

secure their payment by deed of trust or mortgage conveying county or municipally owned land and improvements acquired for the public transit facility operation or use from the proceeds of the bonds to a trustee for the benefit and security of the bondholders; and

# B.

authorize any other security agreement not in conflict with law.

Amendment history

1978 Comp., § 7-24A-18, enacted by Laws 1978, ch. 182, § 18.

Source: official source (NMSA chapter on nmonesource.com)

Report a problem

What's wrong?

Sent anonymously with this page's citation. No personal information is collected.
In this article (23 sections)
  1. 7-24A-1 · Short title
  2. 7-24A-2 · Definitions
  3. 7-24A-3 · Use of proceeds
  4. 7-24A-4 · Limitations on power
  5. 7-24A-5 · County gasoline tax; authorization; imposition; rate
  6. 7-24A-6 · 7-24A-6
  7. 7-24A-6.1 · 7-24A-6.1
  8. 7-24A-7 · 7-24A-7
  9. 7-24A-7.1 · Registration required
  10. 7-24A-8 · Collection of county gasoline tax
  11. 7-24A-9 · Repealed
  12. 7-24A-10 · Municipal gasoline tax; authorization; imposition; rate
  13. 7-24A-11 · 7-24A-11
  14. 7-24A-12 · Collection of municipal gasoline tax
  15. 7-24A-13 · Repealed
  16. 7-24A-14 · Bond ordinance
  17. 7-24A-15 · Terms of bonds
  18. 7-24A-16 · Sale of bonds
  19. 7-24A-17 · Construction
  20. 7-24A-18 · Additional security
  21. 7-24A-19 · Foreclosure
  22. 7-24A-20 · Legal investments
  23. 7-24A-21 · Joint election
Full table of contents →