Chapter 6, Article 21C NMSA 1978 may be cited as the “State Building Bonding Act”. History: Laws 2001, ch. 199, § 1; 2003, ch. 371, § 1. ANNOTATIONS The 2003 amendment, effective June 20, 2003, rewrote the section which read “Sections 1 through 11 of this act may be cited as the ‘State Office Building […]
Any holder of building bonds or any person or officer being a party in interest may sue to enforce and compel the performance of the provisions of the State Building Bonding Act. History: Laws 2001, ch. 199, § 10; 2003, ch. 371, § 9. ANNOTATIONS The 2003 amendment, effective June 20, 2003, substituted “building bonds” […]
All building bonds shall be exempt from taxation by the state or any of its political subdivisions. History: Laws 2001, ch. 199, § 11; 2003, ch. 371, § 10. ANNOTATIONS The 2003 amendment, effective June 20, 2003, substituted “All building bonds” for “All state office building bonds”.
ANNOTATIONS Repeals. — Laws 2003, ch. 371, § 13 repealed 6-21C-2 NMSA 1978, as enacted by Laws 2001, ch. 199, § 2, relating to findings and purpose, effective June 20, 2003. For provisions of former section, see the 2002 NMSA 1978 on NMOneSource.com.
A. The legislature finds that the expense of leasing office space for state occupancy has grown to the point that the state would be better served if more state-owned facilities were acquired. The legislature further finds that the state’s overall occupancy costs could be reduced even after taking into account the payments necessary on bonds […]
As used in the State Building Bonding Act: A. “acquiring” or “acquisition” includes acquiring or acquisition by purchase, construction or renovation; and B. “building bonds” means state office building tax revenue bonds. History: Laws 2001, ch. 199, § 3; 2003, ch. 371, § 2; 2004, ch. 123, § 2. ANNOTATIONS The 2004 amendment, effective May […]
A. The New Mexico finance authority is authorized to issue and sell revenue bonds, known as “state office building tax revenue bonds”, payable solely from the state building bonding fund, in compliance with the State Building Bonding Act for the purpose of acquiring state office buildings and related facilities and other critical state facilities within […]
A. The “state building bonding fund” is created as a special fund within the New Mexico finance authority. The fund shall be administered by the New Mexico finance authority as a special account. The fund shall consist of money appropriated and transferred to the fund and gross receipts tax revenues distributed to the fund by […]
The New Mexico finance authority may issue and sell at public or private sale building bonds to refund outstanding building bonds by exchange, immediate or prospective redemption, cancellation or escrow, including the escrow of debt service funds accumulated for payment of outstanding bonds, or any combination thereof, when, in its opinion, such action will be […]
A. The New Mexico finance authority, except as otherwise specifically provided in the State Building Bonding Act, shall determine at its discretion the terms, covenants and conditions of building bonds, including, but not limited to, date of issue, denominations, maturities, rate or rates of interest, call features, call premiums, registration, refundability and other covenants covering […]
A. Building bonds shall be sold by the New Mexico finance authority at such times and in such manner as the authority may elect, consistent with the need of the facilities management division of the general services department, either at private sale for a negotiated price or to the highest bidder at public sale for […]
A. The State Building Bonding Act shall, without reference to any other act of the legislature, be full authority for the issuance and sale of building bonds, which bonds shall have all the qualities of investment securities under the Uniform Commercial Code [Chapter 55 NMSA 1978] and shall not be invalid for any irregularity or […]
