{"data":{"id":"us-nm/5-4-12","jurisdiction":"us-nm","citation":"5-4-12","heading":"Terms of bonds.","body":"A. Recreational revenue bonds issued as authorized in Section 5-4-10 NMSA 1978 shall:\n(1) bear interest at a net effective interest rate and a coupon rate or rates of not exceeding the maximum rates permitted by the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978] and such interest shall be payable annually or semiannually;\n(2) be serial in form and maturity or may consist of one bond payable one time or in installments;\n(3) be numbered consecutively from one upward; and\n(4) be sold for cash at a public or private sale.\nB. Recreational revenue bonds may be payable at any time or times not exceeding twenty years from the date of the bonds.","path":["Chapter 5 - Municipalities and Counties","ARTICLE 4 Playgrounds and Recreational Equipment"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18447/index.do","current_through":"2025-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"194952ea9c1d6a3bf0fe76bbad568c9a935e42a16ebdb3a71e93cc9852a566e4","source_id":"us-nm","stale":false,"prev":"us-nm/5-4-11","next":"us-nm/5-4-13"},"notice":"GroundRules: Original legal text. Not legal advice."}