Section 58-23-29 – Exemption from taxation; assets to state upon dissolution.
A. All property acquired or held by the council under the Hospital Equipment Loan Act, income therefrom and bonds issued under the Hospital Equipment Loan Act, plus the interest payable and income derived from the bonds, shall be exempt from taxation by the state or any subdivision thereof. Upon dissolution of the council, its assets, […]
Section 58-23-30 – Bonds; legal investments.
The bonds issued under the authority of the Hospital Equipment Loan Act shall be legal investments in which all public officers or public bodies of this state, insurance companies, banks and savings and loan associations, organized under the laws of this state, may invest funds. History: Laws 1983, ch. 290, § 30.
Section 58-23-31 – Loan program; annual report; contents; audit.
The council shall, following the close of each fiscal year, submit an annual report of its activities for the preceding year to the governor and to the legislative finance committee. Each member of the legislature may receive a copy of such report by requesting a copy from the chairman of the council. Each report shall […]
Section 58-23-32 – Liberal construction.
The Hospital Equipment Loan Act shall be liberally construed to accomplish its purposes. History: Laws 1983, ch. 290, § 32.
Section 58-23-18 – Bonds secured by trust indenture.
The bonds may be secured by a trust indenture between the council and a corporate trustee which may be either a bank having the power of a trust company or a trust company. Such trust indenture may contain reasonable provisions for protecting and enforcing the rights and remedies of the bondholders, including covenants setting forth […]
Section 58-23-19 – Security for payment of bonds.
Any bond resolution or related trust agreement, trust indenture, indenture of mortgage or deed of trust may contain provisions, which shall be a part of the contract with the holders of the bonds to be authorized, as to: A. pledging or assigning the revenues generated by the health-related equipment or pledging or assigning the notes […]
Section 58-23-20 – General obligation bonds; payment and security.
Except as may otherwise be provided by the council, every issue of its bonds is a general obligation of the council payable solely out of any revenue or money of the council, subject only to any agreements with the holders of particular bonds pledging any particular money or revenue. The bonds may be additionally secured […]
Section 58-23-21 – Bonds; no obligation of state.
No bonds issued by the council under the Hospital Equipment Loan Act shall constitute a debt, liability or general obligation of this state or a pledge of the faith and credit of this state, but shall be payable solely as provided by Section 58-23-19 NMSA 1978. Each bond issued under the Hospital Equipment Loan Act […]
Section 58-23-22 – Council; pledge; recording of lien not required.
Any pledge made by the council shall be valid and binding from the time when the pledge is made. The revenue, money or properties pledged and later received by the council shall immediately be subject to the lien of such pledge without any further act, and the lien of any such pledge is valid and […]
Section 58-23-23 – Purchase of bonds; cancellation; purchase price.
The council, subject to existing agreements with bondholders, has the power to purchase bonds of the council out of any funds available for that purpose, which may thereupon be canceled, at any reasonable price which, if the bonds are then redeemable, shall not exceed the applicable redemption price plus accrued interest to the next interest […]