All securities issued by the authority shall be authorized by resolution. The authority may pledge its full faith and credit for the payment of any securities authorized in the Eastern Sandoval County Arroyo Flood Control Act, the interest thereon, any prior redemption premium or premiums and any charges appertaining thereto. Securities may constitute the direct and general obligations of the authority. Their payment may be secured by a specific pledge of tax proceeds and other revenues of the authority as the board may determine. History: Laws 2007, ch. 99, § 47. ANNOTATIONSEmergency clauses. — Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
New Mexico Legal Code