New Mexico Statutes 3-52-10. Additional security
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To further the marketability of bonds, the ordinance authorizing their issue may:
Terms Used In New Mexico Statutes 3-52-10
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Trustee: A person or institution holding and administering property in trust.
A. secure their payment by deed of trust or mortgage conveying municipally owned land and improvements acquired for the public transit facility from the proceeds of the bonds to a trustee for the benefit and security of the bondholders; and
B. authorize any other security agreement not in conflict with law.