As used in Chapter 3, Article 31 NMSA 1978: A. "bond" means any obligation of a municipality issued under Chapter 3, Article 31 NMSA 1978, whether designated as a bond, note, loan, warrant, debenture, lease- purchase agreement or other instrument evidencing an obligation of a municipality to make payments; B. "emergency medical services bonds" means the bonds authorized by Subsection K of Section 3-31-1 NMSA 1978; C. "flood recovery revenue bonds" means the bonds authorized by Subsection I of Section 3-31-1 NMSA 1978; D. "gasoline tax revenue" means all or portions of the amounts of tax revenues distributed to municipalities pursuant to Sections 7-1-6.9 and 7-1-6.27 NMSA 1978; E. "gasoline tax revenue bonds" means the bonds authorized by Subsection E of Section 3-31-1 NMSA 1978; F. "gross receipts tax revenue" means the amount of money distributed to a municipality pursuant to Section 7-1-6.4 NMSA 1978 and transferred to a municipality pursuant to Section 7-1-6.12 NMSA 1978 for any municipal gross receipts tax imposed pursuant to the Municipal Local Option Gross Receipts and Compensating Taxes Act [Chapter 7, Article 19D NMSA 1978]; G. "gross receipts tax revenue bonds" means the bonds authorized by Subsection D of Section 3-31-1 NMSA 1978; H. "joint utility revenue bonds" or "joint utility bonds" means the bonds authorized by Subsection C of Section 3-31-1 NMSA 1978; I. "pledged revenues" means the revenues, net income or net revenues authorized to be pledged to the payment of revenue bonds as specifically provided in Chapter 3, Article 31 NMSA 1978; J. "project revenue bonds" means the bonds authorized by Subsection F of Section 3-31-1 NMSA 1978; and K. "utility revenue bonds" or "utility bonds" means the bonds authorized by Subsection B of Section 3-31-1 NMSA 1978. History: 1978 Comp., § 3-31-1.1, enacted by Laws 2019, ch. 274, § 2; 2025, ch. 23, § 2; 2025, ch. 24, § 2.
‹ Prev All New Mexico sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.