State Codes and Statutes
Statutes > New-mexico > Chapter-22 > Article-19 > Section-22-19-422-19-4. Bonds; mortgages.
A. A local school board may issue bonds or other special obligations to finance the repayment of all money borrowed for an income project pursuant to the School Revenue Bond Act [22-19-1 NMSA 1978].
B. A local school board may execute a mortgage, deed of trust or a security agreement upon the income project to secure payment of any bonds or other special obligations issued pursuant to the School Revenue Bond Act.
