State Codes and Statutes
Statutes > New-mexico > Chapter-7 > Article-20c > Section-7-20c-107-20C-10. Ordinance authorizing revenue bonds.
At a regular or special meeting called for the purpose of issuing revenue bonds as authorized pursuant to the Local Hospital Gross Receipts Tax Act [7-20C-1 NMSA 1978], the governing body may adopt an ordinance that:
A. declares the necessity for issuing revenue bonds;
B. authorizes the issuance of revenue bonds by an affirmative vote of a majority of the governing body; and
C. designates the source of the pledged revenues.
