Section 3-52-10 - Additional security. - New Mexico Statutes

3-52-10. Additional security.

To further the marketability of bonds, the ordinance authorizing their issue may:   

A.     secure their payment by deed of trust or mortgage conveying municipally owned land and improvements acquired for the public transit facility from the proceeds of the bonds to a trustee for the benefit and security of the bondholders; and   

B.     authorize any other security agreement not in conflict with law.