A. The District may obtain funds to finance eligible improvements by means of borrowing from the City or from a private lender, or through the issuance of bonds. The District may also provide for direct private lending to finance eligible improvements, pursuant to NMSA § 16-511.
B. Should the District issue bonds, such issuance shall be in accordance with the relevant provisions of the Act and state law. No holder of special assessment bonds issued pursuant to the Act or the City's Ordinance may compel any exercise of the taxing power of the District or the City to pay the bonds or the interest on the bonds. Any special assessment bonds issued pursuant to the Act are not a debt or general obligation of the City, nor is the payment of special assessment bonds enforceable out of any money other than the revenue pledged to the payment of the bonds. (Ord. 2018-2, 9-4-2018)