Section 6-19-3 – Legislative intent.
It is the intent of the legislature by passage of the Economic Advancement District Act to authorize economic advancement districts to acquire, own, lease or sell projects for the purpose of promoting industry and trade, other than retail trade, for the enhancement of the economy of the area encompassed by the district and for 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 […]
Section 6-18-11 – Costs.
The public body may pay the fees and expenses of, and costs for, agents, trustees, attorneys, credit facilities, placement and sale of bonds, and all other costs and expenses incurred in the authorization, issuance, sale, delivery, call, purchase, remarketing, registration, transfer, exchange, administration and payment of the bonds and interest thereon from the proceeds of […]
Section 6-18-12 – Provisions for interest payments; tax levy.
A. Subject to any applicable limitations on indebtedness, with respect to refunding bonds, there may be included in the principal amount, and paid from the proceeds, of bonds issued pursuant to the Public Securities Short-Term Interest Rate Act capitalized interest for three years or such longer period as may otherwise be authorized by law. The […]