All securities of the same issue or series shall be equally and ratably secured without priority by reason of number, date of maturity, date of securities, of sale, of execution, or of delivery, by a lien on said revenues in accordance with the provisions of this act [N.M. Stat. Ann. Chapter 72, Article 16] and the resolution authorizing, or other instrument appertaining to, said securities, except to the extent such resolution or other instrument shall otherwise expressly provide.

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Terms Used In New Mexico Statutes 72-16-51

  • Lien: A claim against real or personal property in satisfaction of a debt.