New Mexico Administrative Code
Title 6 - PRIMARY AND SECONDARY EDUCATION
Chapter 20 - PUBLIC SCHOOL FINANCE - BUDGETING AND ACCOUNTING
Part 5 - PROCEDURES FOR PROVIDING PUBLIC SCHOOL DISTRICTS WITH FINANCIAL ASSISTANCE REGARDING GENERAL OBLIGATION INDEBTEDNESS
Section 6.20.5.7 - DEFINITIONS
Universal Citation: 6 NM Admin Code 6.20.5.7
Current through Register Vol. 35, No. 18, September 24, 2024
A. "School District Loan Act" means the act, Sections 22-18A-1 through 5 NMSA 1978, creating a revolving loan fund to provide loans when property tax proceeds are insufficient to meet debt service on general obligation indebtedness.
B. "Public school district general obligation bond loan fund" means the revolving loan fund created in the state treasury as an additional source for payments of principal and interest due on public school district general obligation indebtedness already incurred or incurred in the future or for payments of any other obligations arising in connection with that indebtedness.
Disclaimer: These regulations may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
