Statutes > New Mexico Statutes > Chapter 22 - Public Schools. > Article 19B - School District Board Anticipation Notes, 22-19B-1 through 22-19B-9. > Section 22-19B-4 - Issuance of bond anticipation notes.

Section 22-19B-4 - Issuance of bond anticipation notes.

22-19B-4. Issuance of bond anticipation notes.

A.     A school district may issue bond anticipation notes for any purpose for which general obligation bonds are authorized to be issued.   

B.     The principal amount of bond anticipation notes shall be payable solely from the proceeds of the general obligation bonds for which the bond anticipation notes are issued and shall not be considered debt of the school district for purposes of Article 9, Section 11 of the constitution of New Mexico.