{"data":{"id":"us-nm/3-39-6","jurisdiction":"us-nm","citation":"3-39-6","heading":"Irrepealable bond ordinance.","body":"A. Any municipality may issue bonds for:\n(1) the purpose of preparing, acquiring, constructing or improving airport facilities;\n(2) the purpose of refinancing, refunding and paying any bonds or obligations payable from any revenues of any municipal airport facility as provided in Section 3-39-7 NMSA 1978; or\n(3) any combination of the aforesaid purposes set forth in Paragraphs (1) and (2).\nB. The bonds are payable solely from a pledge of:\n(1) net income derived by the municipality from the airport facility financed with the proceeds;\n(2) net income of all or designated municipal airport facilities whether or not financed in whole or in part with the proceeds;\n(3) contributions, grants or other financial assistance from the state or federal governments or any other sources;\n(4) the additional special funds authorized by Section 3-39-12 NMSA 1978; or\n(5) any combination of these sources.\nC. The bonds shall be authorized by ordinance which is irrepealable as long as any obligation on the bonds is unpaid by the municipality.","path":["Chapter 3 - Municipalities","ARTICLE 39 Municipal Airports"],"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":"7c119d9315c80436a56a43dfc1c61b795ace45a966e017f4ab46801e9cab6361","source_id":"us-nm","stale":false,"prev":"us-nm/3-39-5","next":"us-nm/3-39-7"},"notice":"GroundRules: Original legal text. Not legal advice."}