New Mexico Statutes 4-49-7. General obligation bonds; authority to issue
The boards of county commissioners may issue the general obligation bonds of the county in any sum necessary, not greater than four percent, inclusive of all other bonded indebtedness, of the assessed value of the taxable property of the county, for
Terms Used In New Mexico Statutes 4-49-7
- 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.
the purpose of building courthouses, jails, bridges, hospitals, public libraries, facilities for the holding of county fairs, cultural facilities, purchasing books or other library resources, building juvenile detention homes, athletic facilities, parking structures, administrative facilities, facilities for housing equipment, repairing equipment and servicing equipment and sewerage facilities, constructing or repairing public roads and for construction and acquisition of water, sewer or sanitary landfill systems and airports.