New Mexico § 5-7-3 - Fire district bonds; authority to issue; pledge of revenues; limitation on time of issuance
Full text of New Mexico New Mexico Statutes Annotated § 5-7-3 — Fire district bonds; authority to issue; pledge of revenues; limitation on time of issuance, with citation guidance and answers to common questions.
§ 5-7-3. Fire district bonds; authority to issue; pledge of revenues; limitation on time of issuance
A. In addition to any other law authorizing a county or municipality to issue revenue
bonds, a county or municipality may issue fire district bonds pursuant to the Fire
District Bond Act for the purposes specified in this section. B. Fire district bonds may be issued for acquiring, extending, enlarging, bettering,
repairing, improving, constructing, purchasing, furnishing, equipping and rehabilitating
any fire district project, including, where applicable, purchasing, otherwise acquiring
or improving the ground therefor, or for any combination of the foregoing purposes. The county or municipality may pledge irrevocably any or all of the project revenues
provided for the operation of the fire district project for which the particular bonds
are issued to the payment of the interest on and principal of such bonds. The net revenues of any fire district project shall not be pledged to the bonds
issued for any fire district project which clearly is unrelated in its purpose; but
nothing in this section shall prevent the pledge to any of such bonds of any such
revenues received from any existing, future or disconnected facilities and equipment
which are related to and which may constitute a part of the particular fire district
project. Any general determination by the governing body of the county or municipality that
any facilities or equipment are reasonably related to and shall constitute a part
of a specified fire district project shall be conclusive if set forth in the proceedings
authorizing such fire district bonds.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 5-7-3
What does New Mexico Statutes Annotated § 5-7-3 cover?
Section 5-7-3 ("Fire district bonds; authority to issue; pledge of revenues; limitation on time of issuance") 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 § 5-7-3?
A common citation format is "New Mexico Statutes Annotated § 5-7-3" (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 § 5-7-3 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.