Nm. Const. art. IX, § 7
NM Const., Article IX, Section 7
Length: 49 wordsOfficial source
[State indebtedness; purposes.] The state may borrow money not exceeding the sum of two hundred thousand dollars [($200,000)] in the aggregate to meet casual deficits or failure in revenue, or for necessary expenses. The state may also contract debts to suppress insurrection and to provide for the public defense.