Whenever revenue bonds are issued hereunder, it shall be the duty of the governing body to impose, in connection with the revenues and proceeds pledged for their payment, tolls, rates, charges, fees, license taxes, other excise taxes or quasi-excise taxes fully sufficient to pay the principal of and interest on the bonds, and to carry out all commitments made in the proceedings authorizing their issuance.
§ 5-5-23 NMSA 1978
Revenue bond charges
Known as the Joint City-County Building Law
The act spans §§ 5–5 (27 sections).
1953 Comp., § 6-9-23, enacted by Laws 1959, ch. 300, § 23.
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.