New Mexico Statutes 58-18-7.3. Rehabilitation loans and home improvement loans
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The authority may develop a tax-exempt bond, a taxable bond or an authority- funded program for the financing of home improvement or rehabilitation loans. Such a home improvement or rehabilitation loan program may be conducted in concert with any appropriation provided by the legislature for the purpose of developing and conducting a program of subsidizing the interest rates on home improvement or rehabilitation loans to persons of low or moderate income.
Terms Used In New Mexico Statutes 58-18-7.3
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization