New Mexico Statutes 22-19B-4. Issuance of bond anticipation notes
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A. A school district may issue bond anticipation notes for any purpose for which general obligation bonds are authorized to be issued.
Terms Used In New Mexico Statutes 22-19B-4
- 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.
B. The principal amount of bond anticipation notes shall be payable solely from the proceeds of the general obligation bonds for which the bond anticipation notes are issued and shall not be considered debt of the school district for purposes of Article 9, § 11 of the constitution of New Mexico.