A. The board of trustees may issue bonds in the form determined by the board of trustees for the purpose of refunding any of the general obligation bonded indebtedness of the district which has or may hereafter become payable at the option of the district or by consent of the bondholder or by any lawful means.

Terms Used In New Mexico Statutes 6-19-12

  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.

B. The procedures set forth in Sections 6-15-11 through 6-15-22 N.M. Stat. Ann. shall govern the board of trustees with respect to the issuance, sale and payment of principal and interest on refunding bonds of the district.

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