{"data":{"id":"us-nm/3-60a-33","jurisdiction":"us-nm","citation":"3-60A-33","heading":"Revenue bonds; bond security.","body":"The principal of, the interest on and any prior redemption premiums due in connection with the revenue bonds shall be payable from, secured by a pledge of and constitute a lien on the revenues out of which the bonds shall be made payable. In addition, they may be secured by a mortgage covering all or any part of the project or upon any other property of the user or both by a pledge of the revenues from or a financing agreement for the project or both as the local government in its discretion may determine; but no local government shall be authorized by the Redevelopment Bonding Law [3-60A-26 through 3-60A-46 NMSA 1978] to pledge any of its property or to otherwise secure the payment of any bonds with its property, except that the local government may pledge the revenues from the project.","path":["Chapter 3 - Municipalities","ARTICLE 60A Metropolitan Redevelopment"],"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":"8dc4a41f723ef8ab0b5fa9296380cc0aa73246b04db0acfb6878830bd331754e","source_id":"us-nm","stale":false,"prev":"us-nm/3-60a-32","next":"us-nm/3-60a-34"},"notice":"GroundRules: Original legal text. Not legal advice."}