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Current as of January 01, 2024 | Updated by Findlaw Staff
Prior to borrowing any money to finance an income project, a local school board shall furnish to the state board [department] the following information:
A. a detailed description of the income project;
B. an explanation of the necessity for the income project;
C. an estimate of the total cost of the income project;
D. an estimate of the amount of income anticipated from the income project;
E. an estimate of the amount of income from existing buildings, improvements or facilities that will be pledged to pay for the income project;
F. an estimate of the yearly operating cost of the income project; and
G. an estimate of the anticipated yearly net income from the income project.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 22. Public Schools § 22-19-6. Report to state department - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-22-public-schools/nm-st-sect-22-19-6/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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