New Mexico Statutes 5-5-7. Borrowing money and securities evidencing loans
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Any county and city shall each have the power, separately and severably from time to time to borrow money and issue the following securities to evidence such loans, to finance in whole or in part the cost of any project or any part thereof:
Terms Used In New Mexico Statutes 5-5-7
- 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.
- 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.
short-term notes;
general obligation bonds, maturing serially is [in] not to exceed thirty years from the date thereof; and
revenue bonds, maturing serially is [in] not to exceed forty years from the date thereof.