Find Laws Find Lawyers Free Legal Forms USA State Laws

NEW MEXICO STATUTES AND CODES

Section 6-13-20 - Refunding; issuance of bonds.

6-13-20. Refunding; issuance of bonds.

A.     Any bonds issued under the Institution Bond Act [6-13-1 NMSA 1978] for refunding purposes may be:   

(1)     delivered in exchange for the outstanding bonds authorized to be refunded; or   

(2)     sold at public or private sale for not less than the par value of the bonds, plus accrued interest from the last interest date or, if there is no previous interest date, from the bond date, to the date of delivery of the bonds.   

B.     The proceeds shall immediately:   

(1)     be applied to retirement of the bonds to be retired or refunded; or   

(2)     be placed in escrow to be applied to payment of the bonds upon presentation for payment by the holders.   

New Mexico Law

New Mexico State Laws
    > New Mexico Child Support
    > New Mexico Gun Laws
    > New Mexico Statutes
New Mexico Tax
    > New Mexico State Tax
New Mexico Labor Laws
    > New Mexico Unemployment
New Mexico Agencies
    > New Mexico DMV
    > New Mexico Taxation and Revenue

New Mexico Court Map

Tips