Bonds issued under the Institution Bond Act shall be payable not later than fifty years from the date of issue and in consecutive order commencing not later than two years from the date of issue. They shall be in denominations determined by the governing board of the state institution. The form of the bonds shall be determined by the governing board of the state institution and signatures may be affixed in compliance with the Uniform Facsimile Signature of Public Officials Act [6-9-1 to 6-9-6 NMSA 1978].
History: 1953 Comp., § 11-9-5, enacted by Laws 1963, ch. 298, § 5; 1983, ch. 265, § 26.
Repeals and reenactments. — Laws 1963, ch. 298, § 5, repealed former 11-9-5, 1953 Comp., relating to denominations of negotiable coupon bonds and their forms, and enacted a new 6-13-5 NMSA 1978.
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