The legislature authorizes and approves the district to issue bonds, pursuant to the provisions of Paragraph (5) of Subsection C of Section 6-35-7 NMSA 1978, in an amount not to exceed ninety-two million dollars ($92,000,000) in net proceeds of the five hundred million dollars ($500,000,000) in net proceeds authorized to be issued by the district by Subsection A of Section 6-35-7 NMSA 1978, secured by all or a portion of the gross receipts tax distribution and the gaming tax distribution made pursuant to the provisions of Section 7-1-6.73 NMSA 1978, pledged to pay the principal of and interest on the bonds, with such issuance of bonds by the district pursuant to the provisions of the State Fairgrounds District Act. History: Laws 2026, ch. 33, § 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.