Section 21-11-27 – Repealed.
ANNOTATIONS Repeals. — Laws 2001, ch. 185, § 1 repealed 21-11-27 NMSA 1978, as enacted by Laws 1947, ch. 119, § 13, relating to classroom facilities outside the city of Socorro, effective June 15, 2001. For provisions of former section, see the 2000 NMSA 1978 on NMOneSource.com.
Section 21-11-28 – Repealed.
ANNOTATIONS Repeals. — Laws 1999, ch. 28, § 2 repealed 21-11-28 NMSA 1978, as enacted by Laws 1982, ch. 4, § 5, relating to the New Mexico tech sinking fund, effective June 18, 1999. For provisions of former section, see the 1998 NMSA 1978 on NMOneSource.com.
Section 21-11-26 – [Bonds exempt from taxation.]
Bonds issued under the provisions of this act [21-11-15, 21-11-16, 21-11-18 to 21-11-26 NMSA 1978] shall forever be and remain free and exempt from taxation by this state or any subdivision thereof. History: 1941 Comp., § 55-2624, enacted by Laws 1947, ch. 119, § 12; 1953 Comp., § 73-27-26. ANNOTATIONS Bracketed material. — The bracketed […]
Section 21-11-16 – [Authority to issue and retire building and improvement bonds.]
Whenever the said board, by affirmative vote of a majority of its members, duly entered in the minutes of said board, shall, by resolution, determine that it is necessary to erect, alter, improve, furnish or equip any building or buildings at said school [New Mexico institute of mining and technology], or acquire any land for […]
Section 21-11-17 – Form and conditions of bonds.
Bonds of the New Mexico institute of mining and technology issued pursuant to Chapter 21, Article 11 NMSA 1978 shall be in such form and denominations as the board of regents of the institute shall determine, due and payable not later than twenty-five years from date of issue. The bonds shall be payable in consecutive […]
Section 21-11-18 – [Sale of bonds; publication of notice; bids.]
The regents shall offer said bonds for sale after publication of notice of the time and place of sale, in some newspaper of general circulation in Albuquerque, New Mexico, once each week for four (4) consecutive weeks prior to the date fixed for said sale. Such notice shall specify the amount, denomination, maturity dates and […]
Section 21-11-19 – [Permanent improvement and interest and retirement funds.]
The proceeds from the sale of said bonds shall be paid to the secretary and treasurer of said regents, and shall be placed in a separate fund to be known as “permanent improvement fund” to be used and paid out only for the specified purposes enumerated in this act [21-11-15, 21-11-16, 21-11-18 to 21-11-26 NMSA […]
Section 21-11-20 – [Interest and retirement fund established.]
At the time of issuing said bonds the regents shall establish for the payment of the principal and interest thereof a fund to be known as “interest and retirement fund” into which fund said regents shall immediately place a sum not less than the amount necessary to pay the interest and maturing principal of said […]
Section 21-11-21 – [Pledge of income to retirement of bonds and payment of interest.]
For the faithful and prompt payment of all interest and principal of said bonds as and when the same shall mature according to the tenor thereof, the issue thereof shall constitute an irrevocable pledge by said regents of so much of each year’s income from the permanent fund of the New Mexico school of mines […]
Section 21-11-22 – [Forwarding of funds for payment of bonds and interest coupons.]
The secretary and treasurer of said regents shall forward to the bank at which said bonds are payable, prior to the date on which any coupons or principal of any of said bonds shall mature, out of the “interest and retirement fund” a sufficient sum of money to meet said coupons and maturing bonds as […]