Section 73-16-51 – [Exchange or sale of bonds; incontestability.]
Such new bonds, when executed, shall be held by the treasurer of the district subject to the orders of the board of directors of the district. Such new bonds may be issued in exchange for the bonds refunded, or may be sold at public or private sale and the proceeds thereof used to acquire for […]
Section 73-16-52 – [Bonds tax exempt; investment of state funds.]
Bonds issued under this act [73-16-50 to 73-16-53 NMSA 1978] shall be exempt from all state, county, municipal, school and other taxes imposed by any taxing authority of the state of New Mexico, and shall be considered as such interest-bearing securities as the permanent funds of the state of New Mexico may be invested in, […]
Section 73-16-53 – [Rank of bonds; security.]
Bonds issued under this act [73-16-50 to 73-16-53 NMSA 1978] shall rank on a parity with all other bonds of the issue or issues refunded in part thereby and shall in all respects be deemed substituted for the particular bonds refunded thereby and entitled to the same security and payable from the same funds as […]
Section 73-16-49 – [Application of Guaranty Fund Act.]
The provisions of this act [73-16-41 to 73-16-49 NMSA 1978] shall apply only to conservancy districts containing 50,000 acres or more. History: Laws 1931, ch. 50, § 13; 1941 Comp., § 77-2948; 1953 Comp., § 75-30-48. ANNOTATIONS Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Section 73-16-50 – Refunding bonds; form; registration.
Any conservancy district now organized and operating under the provisions of the Conservancy Act of New Mexico is authorized, whenever the board of directors of the district determines that it is for the best interests of the district and the taxpayers of the district, to refund the bonds of the district of every character at […]
Section 73-16-35 – [Bonds tax exempt; investment of state funds.]
The bonds herein authorized shall be entitled to all the privileges of tax exemption and be eligible for the investment of state funds in like manner as provided for conservancy bonds under the provisions of Sections 507 and 508 [73-16-8, 73-16-9 NMSA 1978] of the Conservancy Act [of New Mexico]. History: Laws 1935, ch. 37, […]
Section 73-16-36 – [Amount of bonds; use of proceeds; exemptions from assessment.]
Securities authorized to be issued under provisions hereof may be issued in an amount not exceeding 10% of the benefits confirmed and approved in accordance with Articles IV and V of the Conservancy Act [of New Mexico] and the proceeds upon the sale, exchange or delivery thereof shall be devoted to conserving and developing the […]
Section 73-16-37 – [Application of other laws.]
All of the provisions of Article V of the Conservancy Act of New Mexico relating to the manner of filing, extension on district or tax records, issuance, payment, financial administration and other clauses of the Conservancy Act pertaining to the construction fund assessment or the issuance of bonds and the payments therefor and thereon; the […]
Section 73-16-38 – [Bonds in serial form; maturity dates.]
The securities authorized to be issued hereunder shall be serial in form and the entire issue of said conservation and development fund bonds so serially to be issued shall begin to mature within five years after the issuance thereof and a like amount as near as may be of principal and interest shall fall due […]
Section 73-16-39 – [Bonds considered additional to other bonds; authority to issue; limitations.]
The bonds authorized to be issued under the terms hereof shall not in any manner impair the original construction fund bond issue, but shall be considered as additional securities authorized to be issued by conservancy districts, and full legislative authority is hereby granted to said districts to sell tax anticipation bonds, refunding bonds, debentures and […]