Statutes > New Mexico Statutes > Chapter 7 - Taxation. > Article 27 - Severance Tax Bonding Act, 7-27-1 through 7-27-48. > Section 7-27-25 - No impairment of obligation of contract.

Section 7-27-25 - No impairment of obligation of contract.

7-27-25. No impairment of obligation of contract.

Nothing in this Severance Tax Bonding Act [7-27-1 NMSA 1978] shall be construed as impairing or authorizing the impairment of the contract between the state and the holders of the outstanding Building and Institution Severance Tax Bonds, Series July 1, 1955.