1 Debts of territory and its counties assumed
2 Payment of county debts by another county
3 State refunding bonds for assumed debts
4 Sale of lands for certain bond payments
5 Remission of county debts to state prohibited
6 Militia warrants
7 State indebtedness; purposes
8 State indebtedness; restrictions
9 Use of borrowed funds
10 County indebtedness; restrictions
11 School district indebtedness; restrictions
12 Municipal indebtedness; restrictions
13 County and municipal debt limit; exceptions
14 Aid to private enterprise; veterans’ scholarship programs; student loans; job opportunities; affordable housing
15 State and local refunding bonds
16 State highway bonds

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Terms Used In New Mexico Constitution > Article IX - State, County and Municipal Indebtedness

  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.