When any county, city, town, village or school district of the state shall have in contemplation the issuance of any bonds payable in whole or in part from ad valorem taxes, the governing authority thereof shall, before initiating any proceedings for such issue, forward to the local government division, or public school finance division, of […]
In all cases where bond issues by the school districts, counties or municipalities have been authorized by special election and the bonds have not been issued within four years, the time allowed in Section 6-15-9 NMSA 1978 from the date of the special election authorizing the proposed issue, the proposed bond issue is void, except […]
The governing body of any county, municipality or school district in this state may, with the approval of the department of finance and administration, issue bonds in such form as the governing body may determine, to be denominated refunding bonds, for the purpose of refunding any of the general obligation bonded indebtedness of the county, […]
Whenever such governing body shall deem it expedient to issue refunding bonds under the provisions of Sections 6-15-11 to 6-15-22 NMSA 1978, the governing body of a municipality shall adopt an ordinance, and the governing body of a county or school district shall adopt a resolution, which shall be spread on the records of the […]
The refunding bonds shall be in such form as the governing body may determine and, unless issued in book entry or similar form without the delivery of physical securities, shall refer to the act under which they are issued, be executed in the name of the county, municipality or school district, signed by the chairman […]
The governing body of any county, municipality or school district which shall have issued refunding bonds under the provisions of Sections 6-15-11 to 6-15-22 NMSA 1978, shall, during each year in which any of said bonds shall be outstanding, cause an annual tax to be levied on all property in the county, municipality or school […]
All such refunding bonds may be exchanged dollar for dollar for the bonds to be refunded, or they may be sold as directed by the governing body, and the proceeds thereof shall be applied only to the purpose for which said refunding bonds were issued. History: Laws 1927, ch. 128, § 6; C.S. 1929, § […]
The governing body of any county, municipality or school district issuing bonds under this act [6-15-11 to 6-15-19 NMSA 1978 NMSA 1978] shall keep a record thereof in a book to be kept for that purpose, showing the date, number, amount and maturity of such bonds and all payments of interest or principal of any […]
All such refunding bonds paid and retired shall be burned and destroyed by the governing body which retires the same, and a record of such destruction and the number and amount of bonds destroyed shall be entered on the records of such governing body. History: Laws 1927, ch. 128, § 8; C.S. 1929, § 90-1108; […]
Upon the surrender of any bonds refunded under the provisions of this act [6-15-11 to 6-15-19 NMSA 1978], there shall be entered on the records of the governing body to whom surrendered the fact of such surrender and the number, amount, date and character of the bonds so surrendered; and such bonds shall be destroyed […]
The term “municipality” shall mean any incorporated city, town, or village in this state, whether the same shall have been incorporated by special character [charter] or under the general laws of this state. The term “school district” shall mean and include all municipal independent union high school or rural districts, whether the same shall be […]
It shall be the duty of the local government division, or public school finance division, of the department of finance and administration [office of education of the department of finance and administration], upon the receipt of the notice mentioned in Section 1 [6-15-1 NMSA 1978] hereof to furnish such governing authorities with all necessary information […]
A. The proceeds derived from the issuance of any refunding bonds under the provisions of Sections 6-15-11 through 6-15-22 NMSA 1978, shall first be either immediately applied to the payment, or redemption and retirement of the bonds to be refunded and the cost and expense incident to such procedures, or shall immediately be placed in […]
In order to provide for the payment of maturing principal and interest, or call premium if any, on any of its general obligation or general obligation refunding bonds a county, municipality or school district may contribute any available money to aid in the purchase of securities to be placed in a trust or escrow created […]
A. Any bonds authorized pursuant to Sections 6-6-7 to 6-6-18 and 6-15-1 to 6-15-22 NMSA 1978 may be secured by a sinking fund which may be created by resolution or ordinance of the governing body either at or prior to the issuance of such bonds. The resolution or ordinance creating the sinking fund may also […]
History: 1953 Comp., § 11-6-35, enacted by Laws 1970, ch. 6, § 1; 1978 Comp., § 6-15-23, repealed by Laws 2019, ch. 212, § 284. ANNOTATIONS Repeals. — Laws 2019, ch. 212, § 284 repealed 6-15-23 NMSA 1978, as enacted by Laws 1970, ch. 6, § 1, relating to the short title of the Bond […]
History: 1953 Comp., § 11-6-36, enacted by Laws 1970, ch. 6, § 2; 1971, ch. 132, § 1; 1978 Comp., § 6-15-24, repealed by Laws 2019, ch. 212, § 284. ANNOTATIONS Repeals. — Laws 2019, ch. 212, § 284 repealed 6-15-24 NMSA 1978, as enacted by Laws 1970, ch. 6, § 2, relating to definitions […]
History: 1953 Comp., § 11-6-37, enacted by Laws 1970, ch. 6, § 3; 1971, ch. 132, § 2; 1978 Comp., § 6-15-25, repealed by Laws 2019, ch. 212, § 284. ANNOTATIONS Repeals. — Laws 2019, ch. 212, § 284 repealed 6-15-25 NMSA 1978, as enacted by Laws 1970, ch. 6, § 3, relating to findings […]
History: 1953 Comp., § 11-6-38, enacted by Laws 1971, ch. 132, § 3; 1975, ch. 36, § 1; 1985, ch. 208, § 120; 2018, ch. 79, § 75; 1978 Comp., § 6-15-26, repealed by Laws 2019, ch. 212, § 284. ANNOTATIONS Repeals. — Laws 2019, ch. 212, § 284 repealed 6-15-26 NMSA 1978, as enacted […]
History: 1953 Comp., § 11-6-39, enacted by Laws 1970, ch. 6, § 5; 1978 Comp., § 6-15-27, repealed by Laws 2019, ch. 212, § 284. ANNOTATIONS Repeals. — Laws 2019, ch. 212, § 284 repealed 6-15-27 NMSA 1978, as enacted by Laws 1970, ch. 6, § 5, relating to scope of the Bond Election Act, […]
