Statutes > New Mexico Statutes > Chapter 6 - Public Finances. > Article 19 - Economic Advancement Districts, 6-19-1 through 6-19-18. > Section 6-19-14 - Security for revenue bonds.

Section 6-19-14 - Security for revenue bonds.

6-19-14. Security for revenue bonds.

The principal or interest on any revenue bonds issued under authority of the Economic Advancement District Act [6-19-1 to 6-19-18 NMSA 1978] shall be secured by a pledge of the revenues out of which such bonds shall be made payable, may be secured by a mortgage covering all or any part of the project from the revenues so pledged and may be derived and may be secured by a pledge of the lease of the project.