Section 6-21-6.15 – New Mexico finance authority revenue bonds; authorized; university of New Mexico hospital and university of New Mexico health sciences center.
A. The New Mexico finance authority may issue and sell revenue bonds in compliance with the New Mexico Finance Authority Act for a term not exceeding twenty years in an amount not exceeding eighty-two million dollars ($82,000,000) for the purpose of designing, constructing, equipping and furnishing additions and improvements to the university of New Mexico […]
Section 6-21-7 – Public project finance program; duties of authority.
The authority has the following duties: A. to develop and administer a program to assist qualified entities individually or jointly in financing public projects; B. to establish a process and procedures for review and assessment of public project needs in the state and report to the New Mexico finance authority oversight committee, the legislature and […]
Section 6-21-8 – Public project finance program; loans; purchase or sale of securities.
To implement a program to assist qualified entities in financing public projects, the authority has the powers specified in this section; provided that the authority shall take no action concerning a project financed with money in the public project revolving fund unless the project is specifically authorized by law or authorized pursuant to other provisions […]
Section 6-21-9 – Public project financing; powers of qualified entities.
A qualified entity may: A. obligate itself to pay to the authority at periodic intervals a sum sufficient to pay all or part of debt service or other obligation, including fees and other charges imposed by the authority with respect to bonds issued by the authority to fund a public project, and to make such […]
Section 6-21-10 – Purchases in name of authority; documentation.
A. All tangible and intangible property, real and personal property and securities purchased, held or owned at any time by the authority shall at all times be purchased and held in the name of the authority or may be mortgaged, assigned or otherwise encumbered as security for the repayment of bonds issued by the authority. […]
Section 6-21-11 – Bonds of the authority; use; security.
A. The authority may issue and sell bonds in principal amounts it considers necessary to provide sufficient money for any purpose of the New Mexico Finance Authority Act, including: (1) purchase of securities; (2) making loans through the purchase of securities; (3) making grants for public projects from money available to the authority except money […]
Section 6-21-12 – Bonds; authorization for issuance; terms and conditions.
A. Bonds of the authority shall be authorized by resolution of the authority and may be issued in one or more series. The bonds shall bear the dates, be in the form, be issued in the denominations, have terms and maturities, bear interest at rates and be payable and evidenced in the manner and times […]
Section 6-21-13 – Bonds secured by trust indenture.
The bonds may be secured by a trust indenture between the authority and a corporate trustee which may be either a bank having trust powers or a trust company. The trust indenture may contain reasonable provisions for protecting and enforcing the rights and remedies of bondholders, including covenants setting forth the duties of the authority […]
Section 6-21-14 – Publication of notice; validation; limitation of action.
A. After adoption of a resolution authorizing issuance of bonds, the authority shall publish notice of the adoption of the resolution once in a newspaper of general statewide circulation. B. After the passage of thirty days from the publication required by Subsection A of this section, any action attacking the validity of the proceedings had […]
Section 6-21-15 – Refunding bonds.
The authority is authorized to issue its bonds for the purpose of refunding any bonds then outstanding, including the payment of any redemption premiums thereon and any interest accrued or to accrue to the date of redemption of the outstanding bonds. Until the proceeds of the bonds issued for the purpose of refunding outstanding bonds […]