N.M. Stat. § 5-5-11
Authorization of bonds.
A board by resolution or a council by ordinance shall authorize the issuance by the
municipality, upon the affirmative vote of at least a majority of the members of the
governing body present and constituting a quorum, of any general obligation bond
series upon being authorized so to do by the electors of the municipality voting thereon,
as provided in Chapter 5, Article 5 NMSA 1978 in detail, or the issuance by the
municipality or county, upon the affirmative vote of at least two-thirds of the members of
its governing body present and constituting a quorum, of any revenue bond series
without necessarily being authorized at an election or by any other preliminaries.