New Mexico Administrative Code
Title 18 - TRANSPORTATION AND HIGHWAYS
Chapter 61 - SPACEPORTS
Part 3 - SPACEPORT AUTHORITY BOARD OF DIRECTORS BYLAWS
Section 18.61.3.19 - POWERS PROSCRIPTIVE
Universal Citation: 18 NM Admin Code 18.61.3.19
Current through Register Vol. 35, No. 18, September 24, 2024
The authority shall not:
A. incur debt as a general obligation of the state or pledge the full faith and credit of the state to repay debt; or
B. expend funds or incur debt for the improvement, maintenance, repair or addition to property unless it is owned by the authority, the state or a political subdivision of the state.
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