State Codes and Statutes
Statutes > New-mexico > Chapter-3 > Article-52 > Section-3-52-103-52-10. Additional security.
To further the marketability of bonds, the ordinance authorizing their issue may:
A. secure their payment by deed of trust or mortgage conveying municipally owned land and improvements acquired for the public transit facility from the proceeds of the bonds to a trustee for the benefit and security of the bondholders; and
B. authorize any other security agreement not in conflict with law.
