Each security issued under the Southern Sandoval County Arroyo Flood Control Act shall recite in substance that the security and the interest on that security are payable solely from the revenues or other money pledged to the payment of those revenues. Securities specifically pledging the full faith and credit of the authority for their payment shall so state.
§ 72-19-52 NMSA 1978
Payment recital in securities
Known as the Southern Sandoval County Arroyo Flood Control Act
The act spans §§ 72–72 (103 sections).
Laws 1990, ch. 14, § 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.