Section 74-6A-14 - Validation. - New Mexico Statutes

74-6A-14. Validation.

All outstanding securities of the state and of all local authorities, all loan or other agreements entered into between the state or the division and any local authority, all regulations promulgated by the commission and all acts and proceedings taken by or on behalf of the state or any local authority with respect to the financing of wastewater facilities are hereby validated, ratified, approved and confirmed.  To the extent necessary to carry out its purposes, the commission shall treat any bonds, obligations or agreements of the state or the division that were entered into prior to the effective date hereof for the purpose of effecting the provisions of the Wastewater Facility Construction Loan Act [this article] or the Clean Water Act as if such bonds, obligations or agreements were those recommended by the commission and issued by the board.