New Mexico § 5-5-8 - Short-term notes
Full text of New Mexico New Mexico Statutes Annotated § 5-5-8 — Short-term notes, with citation guidance and answers to common questions.
§ 5-5-8. Short-term notes
A municipality, upon the affirmative vote of at least two-thirds of the members of
its governing body present and constituting a quorum, is hereby authorized to borrow
money without an election in anticipation of the collection of taxes or other revenues
and to issue short-term notes to evidence the amount so borrowed. Such short-term notes shall be payable from the fund for which the money was borrowed;
shall mature before the close of the fiscal year in which the money is so borrowed;
and shall not be extended or funded except in compliance with the provisions of this
act concerning the issuance of general obligation bonds.
Frequently Asked Questions About New Mexico § 5-5-8
What does New Mexico Statutes Annotated § 5-5-8 cover?
Section 5-5-8 ("Short-term notes") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 5-5-8?
A common citation format is "New Mexico Statutes Annotated § 5-5-8" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 5-5-8 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.