The board, in connection with such additionally secured securities, in the resolution authorizing their issuance or other instrument appertaining thereto, may pledge all or a portion of such revenues, subject to any prior pledges, as additional security for such payment of such securities, and at its option may deposit such revenues in a fund created to pay the securities or created to secure additionally their payment.
§ 72-19-48 NMSA 1978
Additionally secured securities
Known as the Southern Sandoval County Arroyo Flood Control Act
The act spans §§ 72–72 (103 sections).
Laws 1990, ch. 14, § 48.
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.