N.M. Code R. § 6.20.5.7 – Definitions

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.
[01-15-99; 6.20.5.7 NMAC - Rn, 6 NMAC 2.2.3.7, 06-14-01]