N.M. Admin. Code § 18.61.3.19 - POWERS PROSCRIPTIVE
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.
Notes
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