Section 6-18-14 – Interest; refunding; approval by local government; additional findings.
Bonds issued under the Public Securities Short-Term Interest Rate Act are not subject to any limitations on interest rates or net effective interest rates or interest rate approval requirements contained in any other laws of this state provided that: A. the bond legislation shall contain findings by the governing body that any fixed rate or […]
Section 6-18-15 – Liberal construction; alternative authority.
The authority granted by the Public Securities Short-Term Interest Rate Act shall be liberally construed so that the purposes and powers provided for may be carried out in effective, efficient and convenient manners by public bodies. The authority granted by that act is supplemental to and provides alternatives for authority granted by other law, and […]
Section 6-18-16 – No action maintainable.
No action or proceeding, at law or in equity, to review any bond legislation, or to question the validity or enjoin the performance of any bond legislation, bond or act, or the issuance of any bond authorized by the Public Securities Short-Term Interest Rate Act, or for any other relief against the public body, the […]
Section 6-18-5 – Applicability.
Every public body authorized to issue any bonds under any of the laws of the state for any purpose may use the provisions of the Public Securities Short-Term Interest Rate Act with respect to such bonds. History: Laws 1983, ch. 161, § 5.
Section 6-18-6 – Short-term bonds.
A public body may authorize short-term bonds, including short-term general obligation bonds, that provide for any or all of the following in or pursuant to the bond legislation: A. principal maturities may be for any one or more periods of two years or less from the respective dates of issuance; B. interest may be payable […]
Section 6-18-7 – Variable rate demand bonds.
A public body may issue bonds, including variable rate demand general obligation bonds, with any of the following provisions: A. the owners or holders of the bonds may be granted the right to demand payment of principal and accrued interest prior to the maturity of such bonds at a designated time or at designated times, […]
Section 6-18-8 – Credit facilities.
With respect to any bonds issued under the provisions of Section 6 or 7 [6-18-6 or 6-18-7 NMSA 1978] of the Public Securities Short-Term Interest Rate Act, the public body may, by the use of credit facilities, provide for: A. additional security for such bonds; B. a primary or contingent source of payment of or […]
Section 6-18-8.1 – Contracts to exchange interest rates, cash flows or limit exposure.
A. A public body that has issued or proposes to issue bonds may enter into contracts authorized in this section if the governing body of that public issuer finds that such a contract would be in the best interests of that public body and, for contracts of the type described in Subsections D and E […]
Section 6-18-9 – Trust agreements.
The public body may, with respect to any bonds issued pursuant to the Public Securities Short-Term Interest Rate Act, enter into trust agreements for the better security of such bonds with any corporate trustee and provide therein for the rights and limitations on rights of the holders and owners of bonds. History: Laws 1983, ch. […]
Section 6-18-10 – General provisions.
A. The bond legislation for any bonds authorized under the Public Securities Short-Term Interest Rate Act may make or authorize provision for any of the following: (1) the call of the bonds for redemption prior to maturity at the option of the public body or at the option of the owner or holder, the redemption […]