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 […]
Section 58-23-24 – Bonds; negotiable instruments.
Whether or not the bonds are in the form and character of negotiable instruments, the bonds are hereby made negotiable instruments, subject only to provisions of the bonds relating to registration. History: Laws 1983, ch. 290, § 24.
Section 58-23-10 – Board; bonding requirements.
At the time of the issuance of any bonds pursuant to the Hospital Equipment Loan Act, each member of the board shall execute a surety bond in the sum of twenty-five thousand dollars ($25,000). To the extent any member of the board is already required by state law to provide a surety bond, that member […]
Section 58-23-25 – Council members; limitation on personal liability.
Neither the members of the council nor any other person executing the bonds issued under the Hospital Equipment Loan Act shall be subject to personal liability in connection with issuance of the bonds. History: Laws 1983, ch. 290, § 25.
Section 58-23-11 – Powers.
The council is granted all powers necessary and appropriate to carry out and effectuate its public and corporate purposes, including but not limited to the following powers: A. to adopt, amend and repeal bylaws, rules and regulations to effectuate the purposes of the Hospital Equipment Loan Act; B. to sue and be sued in its […]
Section 58-23-26 – Deposit of money.
All money of the council, except as otherwise authorized or provided in the Hospital Equipment Loan Act or in a bond resolution, trust agreement or other instrument under which bonds are issued, shall be deposited as soon as practical in a separate account or accounts in banks or trust companies organized under the laws of […]