N.M. Stat. § 72-17-48
Additionally secured securities.
The board, in connection with such additionally secured securities, in the resolution
authorizing their issuance or other instrument appertaining thereto, may pledge all or a
portion of such revenues, subject to any prior pledges, as additional security for such
payment of said securities, and at its option may deposit such revenues in a fund
created to pay the securities or created to secure additionally their payment.