New Mexico § 67-3-72 - Transportation bonds
Full text of New Mexico New Mexico Statutes Annotated § 67-3-72 — Transportation bonds, with citation guidance and answers to common questions.
§ 67-3-72. Transportation bonds
A. The state transportation commission may determine that interest or necessity demands
the issuance of revenue bonds to finance the development and construction of transportation
systems and may by resolution make and issue revenue bonds that shall be known as
“transportation bonds”. The bonds shall be payable solely out of the net income to be derived from the operation
of the project, and the commission shall pledge irrevocably such income to the payment
of those bonds. The bonds shall not become a general obligation of the state or a political subdivision
of the state. B. The proceeds from the sale of transportation bonds shall be used solely for the
purpose for which the bonds were issued. C. Transportation bonds shall not be issued pursuant to this section unless the state
board of finance approves the issuance of the bonds, the principal amount of the bonds
and the maximum net effective interest rate on the bonds.
Frequently Asked Questions About New Mexico § 67-3-72
What does New Mexico Statutes Annotated § 67-3-72 cover?
Section 67-3-72 ("Transportation bonds") 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 § 67-3-72?
A common citation format is "New Mexico Statutes Annotated § 67-3-72" (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 § 67-3-72 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.