Each security issued hereunder shall recite in substance that the security and the interest thereon are payable solely from the revenues or other moneys pledged to the payment thereof. Securities specifically pledging the full faith and credit of the authority for their payment shall so state.
§ 72-17-52 NMSA 1978
Payment recital in securities
Known as the Las Cruces Arroyo Flood Control Act
The act spans §§ 72–72 (103 sections).
1953 Comp., § 75-38-52, enacted by Laws 1967, ch. 156, § 52.
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.