Section 72-16-47 - Payment of securities. - New-mexico Statutes

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Statutes > New-mexico > Chapter-72 > Article-16 > Section-72-16-47

72-16-47. Payment of securities.

All securities issued by the authority shall be authorized by resolution. The authority may pledge its full faith and credit for the payment of any securities herein authorized, the interest thereon, any prior redemption premium or premiums, and any charges appertaining thereto. Securities may constitute the direct and general obligations of the authority. Their payment may be secured by a specific pledge of tax proceeds and other revenues of the authority (in this act [72-16-1 to 72-16-103 NMSA 1978] sometimes referred to as "revenues" of the authority) as the board may determine.

State Codes and Statutes

Statutes > New-mexico > Chapter-72 > Article-16 > Section-72-16-47

72-16-47. Payment of securities.

All securities issued by the authority shall be authorized by resolution. The authority may pledge its full faith and credit for the payment of any securities herein authorized, the interest thereon, any prior redemption premium or premiums, and any charges appertaining thereto. Securities may constitute the direct and general obligations of the authority. Their payment may be secured by a specific pledge of tax proceeds and other revenues of the authority (in this act [72-16-1 to 72-16-103 NMSA 1978] sometimes referred to as "revenues" of the authority) as the board may determine.

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State Codes and Statutes

Statutes > New-mexico > Chapter-72 > Article-16 > Section-72-16-47

72-16-47. Payment of securities.

All securities issued by the authority shall be authorized by resolution. The authority may pledge its full faith and credit for the payment of any securities herein authorized, the interest thereon, any prior redemption premium or premiums, and any charges appertaining thereto. Securities may constitute the direct and general obligations of the authority. Their payment may be secured by a specific pledge of tax proceeds and other revenues of the authority (in this act [72-16-1 to 72-16-103 NMSA 1978] sometimes referred to as "revenues" of the authority) as the board may determine.