5-7-2. Definitions.
148 words·~1 min read·
/nm/chapter-5-municipalities-and-counties/article-7-fire-district-bonds/5-7-2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
As used in the Fire District Bond Act:
A. "fire district bonds" means the bonds authorized in the Fire District Bond Act;
B. "governing body" means the board of county commissioners of a county or the city council, city commission or board of trustees of a municipality;
C. "pledged revenues" means the revenues, net income or net revenues authorized to be pledged to the payment of particular bonds as specifically provided in Section 3 [5- 7-3 NMSA 1978] of the Fire District Bond Act; and
D. "project revenues" means the net revenues of the fire district as well as revenues received by the fire district from the fire protection fund as provided in Sections 59-15-1 through 59-15-18 NMSA 1978 [repealed], which may be pledged to fire district bonds pursuant to Subsection B of Section 3 of the Fire District Bond Act.
History: Laws 1983, ch. 162, § 2.