Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2024 | Updated by Findlaw Staff
For the purpose of paying the principal of, any interest on or any prior redemption premium in connection with, any of the district's general obligation refunding bonds, the board may levy and collect general ad valorem taxes on and against all taxable property within the district in the same manner as other general ad valorem taxes. Any such tax levy shall be made without limitation as to rate or amount if made to pay the principal of, interest on or any prior redemption premium in connection with:
A. any general obligation refunding bonds, issued at any time, which refund any of the district's general obligation bonds issued prior to April 2, 1965;
B. any general obligation refunding bonds, issued at any time, which refund any outstanding general obligation refunding bonds which previously refunded any other general obligation bonds, so long as the general obligation bonds originally refunded were issued prior to April 2, 1965. Except as otherwise provided in its section, any such tax levy shall be subject to the tax limitation imposed by Section 4-54-4 NMSA 1978, as hereafter amended from time to time, if made to pay the principal of, interest on or any prior redemption premium in connection with:
(1) any general obligation refunding bonds which refund any of the district's bonds which were issued on or after April 2, 1965, and for a purpose or purposes other than refunding; or
(2) any general obligation refunding bonds which refund any outstanding general obligation refunding bonds which previously refunded any other general obligation bonds where the general obligation bonds originally refunded were issued on or after April 2, 1965, and for a purpose or purposes other than refunding.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 73. Special Districts § 73-21-50. Tax levy for general obligation refunding bonds - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-73-special-districts/nm-st-sect-73-21-50/
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.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)