{"data":{"id":"us-nm/3-51-32","jurisdiction":"us-nm","citation":"3-51-32","heading":"Power to issue bonds.","body":"A. A city shall have power to issue bonds from time to time, in its discretion for the purpose of financing, in whole or in part, the cost of any project.\nB. A city shall also have the power to issue refunding bonds from time to time for the purpose of refunding, paying and retiring:\n(1) any bonds issued by it pursuant to the Greater Municipality Parking Law or pursuant to Laws 1963, Chapter 313, as amended and supplemented;\n(2) any bonds authorized for parking facilities and payable from the revenues of any parking facilities;\n(3) any bonds authorized for parking facilities and payable from any parking meter revenues;\n(4) any sales tax revenue bonds authorized for the purpose of any public building to be used for parking facilities and pursuant to Section 3-31-1C NMSA 1978;\n(5) any gasoline tax revenue bonds authorized for the purpose of any public building to be used for parking facilities and pursuant to Section 3-31-1D NMSA 1978 [3-31-1E NMSA 1978];\n(6) any bonds authorized for parking facilities and payable from any combination of the income and revenue pledged to the bonds described in Paragraphs (1) through (5) of this Subsection B; or\n(7) any bonds which have refunded the bonds described in Paragraphs (1) through (6) of this Subsection B.\nC. A city shall also have the power to issue bonds for any combination of the purposes described in this section.","path":["Chapter 3 - Municipalities","ARTICLE 51 Greater Municipality Parking"],"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":"941d9b9721868eff3df060bfa2e75d298e9d26f044ee7918bc995875734046e4","source_id":"us-nm","stale":false,"prev":"us-nm/3-51-31","next":"us-nm/3-51-33"},"notice":"GroundRules: Original legal text. Not legal advice."}