Section 4-49-1 - Bonds for remodeling and making additions. - New-mexico Statutes

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4-49-1. Bonds for remodeling and making additions.

Bonds may be issued under the provisions of Sections 4-49-1 through 4-49-21 NMSA 1978 for the purpose of remodeling and making additions to necessary public buildings and for water, sewer or sanitary landfill systems and airports under the same conditions as provided for issuance of bonds for constructing them. Provided, however, that no money derived from general obligation bonds issued and sold under the provisions of Sections 4-49-1 through 4-49-21 NMSA 1978 shall be used for maintaining existing buildings, and, if used for that purpose, the bonds shall be invalid.

State Codes and Statutes

Statutes > New-mexico > Chapter-4 > Article-49 > Section-4-49-1

4-49-1. Bonds for remodeling and making additions.

Bonds may be issued under the provisions of Sections 4-49-1 through 4-49-21 NMSA 1978 for the purpose of remodeling and making additions to necessary public buildings and for water, sewer or sanitary landfill systems and airports under the same conditions as provided for issuance of bonds for constructing them. Provided, however, that no money derived from general obligation bonds issued and sold under the provisions of Sections 4-49-1 through 4-49-21 NMSA 1978 shall be used for maintaining existing buildings, and, if used for that purpose, the bonds shall be invalid.

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State Codes and Statutes

Statutes > New-mexico > Chapter-4 > Article-49 > Section-4-49-1

4-49-1. Bonds for remodeling and making additions.

Bonds may be issued under the provisions of Sections 4-49-1 through 4-49-21 NMSA 1978 for the purpose of remodeling and making additions to necessary public buildings and for water, sewer or sanitary landfill systems and airports under the same conditions as provided for issuance of bonds for constructing them. Provided, however, that no money derived from general obligation bonds issued and sold under the provisions of Sections 4-49-1 through 4-49-21 NMSA 1978 shall be used for maintaining existing buildings, and, if used for that purpose, the bonds shall be invalid.