5-7-7. Fire district bonds not general county or municipal
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/nm/chapter-5-municipalities-and-counties/article-7-fire-district-bonds/5-7-7·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
obligations; authentication.
A. Fire district bonds or refunding bonds issued as authorized in the Fire District Bond Act are:
(1)not general obligations of the county or municipality; and
(2)collectible only from the proper pledged revenues, and each bond shall state that it is payable solely from the proper pledged revenues and that the bondholders may not look to any other county or municipal fund for the payment of the interest and principal of the bonds.
B. The bonds and coupons shall be signed and sealed as provided by the ordinance issuing the same, and the Uniform Facsimile Signature of Public Officials Act shall be applicable.
History: Laws 1983, ch. 162, § 7.