Section 5-7-7 - Fire district bonds not general county or municipal obligations; authentication. - New Mexico Statutes

5-7-7. Fire district bonds not general county or municipal obligations; authentication.

A.     Fire district bonds or refunding bonds issued as authorized in the Fire District Bond Act [5-7-1 NMSA 1978] are:   

(1)     not general obligations of the county or municipality; and   

(2)     collectible only from the proper pledged revenues, and each bond shall state that it is payable solely from the proper pledged revenues and that the bondholders may not look to any other county or municipal fund for the payment of the interest and principal of the bonds.   

B.     The bonds and coupons shall be signed and sealed as provided by the ordinance issuing the same, and the Uniform Facsimile Signature of Public Officials Act shall be applicable.