The terms of bonds issued pursuant to the Tax Increment for Development Act for a district, including refunding bonds, shall expire not more than twenty-five years after the date that the first bonds are issued for that district.
§ 5-15-28 NMSA 1978
Bond term expiration
Known as the Tax Increment for Development Act
The act spans §§ 5–5 (35 sections).
Laws 2006, ch. 75, § 28.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.