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.
B. A city shall also have the power to issue refunding bonds from time to time for the purpose of refunding, paying and retiring:
(1) any bonds issued by it pursuant to the Greater Municipality Parking Law or pursuant to Laws 1963, Chapter 313, as amended and supplemented;
(2) any bonds authorized for parking facilities and payable from the revenues of any parking facilities;
(3) any bonds authorized for parking facilities and payable from any parking meter revenues;
(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;
(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];
(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
(7) any bonds which have refunded the bonds described in Paragraphs (1) through (6) of this Subsection B.
C. A city shall also have the power to issue bonds for any combination of the purposes described in this section.
History: 1953 Comp., § 14-52-29, enacted by Laws 1971, ch. 173, § 17.
ANNOTATIONSRepeals and reenactments. — Laws 1971, ch. 173, § 17, repealed 14-52-29, 1953 Comp., relating to power to issue bonds, and enacted a new section.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Laws 1963, Chapter 313, referred to in Paragraph (1) of Subsection B, was repealed by Laws 1965, ch. 300, § 595. Section 3-31-1 NMSA 1978 was amended in 1983, redesignating former Subsection D of 3-31-1 NMSA 1978 as Subsection E.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 C.J.S. Municipal Corporations § 1902.