{"data":{"id":"us-nm/3-31-7","jurisdiction":"us-nm","citation":"3-31-7","heading":"Revenue bonds; mortgaging water utility property.","body":"If revenue bonds are issued for the acquisition or improvement, betterment or extension of a municipal water utility, the municipality may further assure payment of the revenue bonds by mortgaging and conveying the water utility to a trustee for the benefit and security of the bondholders.","path":["Chapter 3 - Municipalities","ARTICLE 31 Revenue Bonds"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18504/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"68c367643a59bc42ca6ce1d15c6623c96c71aa89155ea45922088a964f5fc98f","source_id":"us-nm","stale":false,"prev":"us-nm/3-31-6","next":"us-nm/3-31-8"},"notice":"GroundRules: Original legal text. Not legal advice."}