Section 6-21-16 - Bond anticipation notes. - New Mexico Statutes

6-21-16. Bond anticipation notes.

The authority is authorized to issue negotiable bond anticipation notes and may renew the same from time to time, but the maximum maturity of such notes, including renewals of such notes, shall not exceed ten years from the date of issue of the original notes.  The notes shall be payable from any money of the authority available for them and not otherwise pledged from loans to or securities issued by a qualified entity or from the proceeds of sale of the bonds of the authority, the state or a qualified entity in anticipation of which such notes were issued.  The notes may be issued for any purpose of the authority.  All such notes shall be issued and secured and shall be subject to the provisions of the New Mexico Finance Authority Act [6-21-1 NMSA 1978] in the same manner and to the same extent as bonds issued pursuant to the New Mexico Finance Authority Act.