New Mexico Statutes 72-16-54. Limitations upon payment of securities
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The payment of securities shall not be secured by an encumbrance, mortgage, or other pledge of property of the authority, except for revenues, income, tax proceeds and other moneys pledged for the payment of securities. No property of the authority, subject to said exception, shall be liable to be forfeited or taken in payment of the securities.
Terms Used In New Mexico Statutes 72-16-54
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.