The bonds authorized by law to provide for the payment of such indebtedness shall be issued in three series, as follows:

Series A. To provide for the payment of such debts and liabilities of the territory of New Mexico.

Series B. To provide for the payment of such debts of said counties.

Series C. To provide for the payment of the bonds and accrued interest thereon of Grant and Santa Fe counties which were validated, approved and confirmed by act of congress, January sixteenth, eighteen hundred and ninety-seven.

ANNOTATIONS

Payment of interest on territorial bonds. — Statutory and constitutional provisions referred to in holding that interest on series "A" state bonds, by which territorial bonds for insane hospital and for military institute were assumed by the state, was properly payable from proceeds of sales and rentals of lands donated by congress to the two institutions respectively. 1915 Op. Att'y Gen. No. 15-1442.

Am. Jur. 2d, A.L.R. and C.J.S. references. — 72 Am. Jur. 2d States, Territories and Dependencies § 85.

Funding or refunding obligations as subject to conditions respecting approval by voters, 97 A.L.R. 442.

Mandatory or permissive character of legislation in relation to payment of state bonds, 103 A.L.R. 813.

Smaller political units, constitutionality of statutory plan for financing or refinancing bonds of, by larger political units, 106 A.L.R. 608.

Power of municipality or other governmental body to issue refunding bonds to retire obligation in respect of which the creation and maintenance of a sinking fund by taxation is required, 157 A.L.R. 794.

Power of governmental unit to issue bonds as implying power to refund them, 1 A.L.R.2d 134.

Validity of governmental borrowing or expenditure for purposes of acquiring, maintaining or improving stadium for use of professional athletic team, 67 A.L.R.3d 1186.

81A C.J.S. States § 259.