New Mexico Statutes 73-7-39. [Authority to refund indebtedness of any kind; borrowing money; issuance of new bonds and notes.]
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Drainage districts organized under the provisions of Sections 73-6-1 to 73-6-44, 73- 7-1 to 73-7-24, 73-7-37, 73-7-38 and 73-7-40 to 73-7-56 N.M. Stat. Ann. may refund all outstanding indebtedness whether evidenced by notes, bonds, coupons, judgments or other evidences of indebtedness in the manner provided by Section 73-7-38 N.M. Stat. Ann. of said statutes, and for such purpose may borrow the money necessary from any person or corporation willing to advance the same, or from the reconstruction finance corporation, or under the National Industrial Recovery Act [repealed] or any agency authorized by acts of congress to loan money for such purpose, and may issue new notes or bonds to evidence such indebtedness.
Terms Used In New Mexico Statutes 73-7-39
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.