State Codes and Statutes

Statutes > New-mexico > Chapter-3 > Article-39 > Section-3-39-13

3-39-13. Foreclosure.

If the interest or any serial maturity of any bond is in default, any obligee may foreclose against the municipality under the same procedure provided for foreclosure of real estate mortgages. The district court may appoint a receiver to operate the airport facility in default.

State Codes and Statutes

Statutes > New-mexico > Chapter-3 > Article-39 > Section-3-39-13

3-39-13. Foreclosure.

If the interest or any serial maturity of any bond is in default, any obligee may foreclose against the municipality under the same procedure provided for foreclosure of real estate mortgages. The district court may appoint a receiver to operate the airport facility in default.