Section 6-20-9 – Assignments of allocations and carryforward election allocations.
Allocations and carryforward election allocations are not assignable by an issuing authority. History: Laws 1988, ch. 46, § 9. ANNOTATIONS Applicability. — Laws 1988, ch. 46, § 12, effective March 4, 1988, makes the Private Activity Bond Act effective retroactive to January 1, 1988, and applicable to all private activity bonds issued after that date.
Section 6-19-16 – Revenue bonds; refunding.
A. Any revenue bonds issued pursuant to the Economic Advancement District Act and at any time outstanding may at any time be refunded by a district by the issuance of refunding bonds, in the amount as the board of trustees may determine, to refund the principal of the revenue bonds, all unpaid accrued and unaccrued […]
Section 6-19-17 – Nature of all bonds issued pursuant to act.
Bonds issued pursuant to the authority of the Economic Advancement District Act: A. shall be legal investments for savings banks and insurance companies organized under the laws of this state; and B. shall be exempt from all taxation by the state or any political subdivision thereof. History: Laws 1987, ch. 115, § 17.
Section 6-19-8 – Board of trustees; duties.
The board of trustees shall: A. be the governing authority of the district; B. comply with the provisions of law for local governments pertaining to the preparation and approval of budgets by the local government division of the department of finance and administration; C. comply with the provisions of law pertaining to the audit of […]
Section 6-19-9 – General obligation bonds.
A. The board of trustees may issue general obligation bonds of the district for the purposes of: (1) constructing, acquiring or purchasing property for a project; (2) equipping, furnishing, remodeling or renovating property for a project; (3) purchasing or acquiring real property deemed necessary for a project; and (4) refunding outstanding general obligation bonded indebtedness. […]
Section 6-19-10 – General obligation bonds; interest; maturities.
A. General obligation bonds issued by a district shall mature not more than ten years from their date and be numbered from one upwards consecutively. Interest on all such bonds shall be payable either annually or semiannually as provided by resolution of the board of trustees; provided that the first installment of interest coming due […]
Section 6-19-11 – General obligation bonds; imposition of tax.
A. The officials now or hereafter charged by law with the duty of levying ad valorem taxes for the payment of bonds and interest shall, in the manner provided by law, make an annual levy sufficient to meet the annual or semiannual payments of principal and interest on the maturing general obligation bonds or the […]
Section 6-19-12 – Refunding bonds.
A. The board of trustees may issue bonds in the form determined by the board of trustees for the purpose of refunding any of the general obligation bonded indebtedness of the district which has or may hereafter become payable at the option of the district or by consent of the bondholder or by any lawful […]
Section 6-19-13 – Revenue bonds.
A. The board of trustees may issue revenue bonds for the purpose of defraying the cost of acquiring, by construction and purchase, or either, any project and to secure the payment of the bonds as provided in Section 14 [6-19-14 NMSA 1978] of the Economic Advancement District Act. B. Revenue bonds issued by a district […]
Section 6-19-14 – Security for revenue bonds.
The principal or interest on any revenue bonds issued under authority of the Economic Advancement District Act shall be secured by a pledge of the revenues out of which such bonds shall be made payable, may be secured by a mortgage covering all or any part of the project from the revenues so pledged and […]