Statutes > New Mexico Statutes > Chapter 72 - Water Law. > Article 20 - Eastern Sandoval County Arroyo Flood Control Act, 72-20-1 through 72-20-103. > Section 72-20-46 - Issuance of interim debentures.

Section 72-20-46 - Issuance of interim debentures.

72-20-46. Issuance of interim debentures.

The authority is authorized to borrow money and to issue interim debentures evidencing "construction" or short-term loans for the acquisition or improvement and equipment of the flood control system or any project in supplementation of long-term financing and the issuance of bonds as provided in Sections 89 [72-20-89 NMSA 1978] through 91 [72-20-91 NMSA 1978] of the Eastern Sandoval County Arroyo Flood Control Act.