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Current as of January 01, 2024 | Updated by FindLaw Staff
As used in Chapter 3, Article 31 NMSA 1978:
A. “bond” means any obligation of a municipality issued under Chapter 3, Article 31 NMSA 1978, whether designated as a bond, note, loan, warrant, debenture, lease-purchase agreement or other instrument evidencing an obligation of a municipality to make payments;
B. “gasoline tax revenue” means all or portions of the amounts of tax revenues distributed to municipalities pursuant to Sections 7-1-6.9 and 7-1-6.27 NMSA 1978;
C. “gasoline tax revenue bonds” means the bonds authorized by Subsection E of Section 3-31-1 NMSA 1978;
D. “gross receipts tax revenue” means the amount of money distributed to a municipality pursuant to Section 7-1-6.4 NMSA and transferred to a municipality pursuant to Section 7-1-6.12 NMSA 1978 for any municipal gross receipts tax imposed pursuant to the Municipal Local Option Gross Receipts Taxes Act;
E. “gross receipts tax revenue bonds” means the bonds authorized by Subsection D of Section 3-31-1 NMSA 1978;
F. “joint utility revenue bonds” or “joint utility bonds” means the bonds authorized by Subsection C of Section 3-31-1 NMSA 1978;
G. “pledged revenues” means the revenues, net income or net revenues authorized to be pledged to the payment of revenue bonds as specifically provided in Chapter 3, Article 31 NMSA 1978;
H. “project revenue bonds” means the bonds authorized by Subsection F of Section 3-31-1 NMSA 1978; and
I. “utility revenue bonds” or “utility bonds” means the bonds authorized by Subsection B of Section 3-31-1 NMSA 1978.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 3. Municipalities § 3-31-1.1. Definitions - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-3-municipalities/nm-st-sect-3-31-1-1/
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 or via Westlaw before relying on it for your legal needs.
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