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Section 73-27-11 - Revenue bonds; terms.

NM Stat § 73-27-11 (2019) (N/A)
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Revenue bonds:

A. may have interest, appreciated principal value or any part thereof payable at intervals or at maturity as may be determined by the authority;

B. may be subject to prior redemption at the authority's option at such time or times and upon such terms and conditions with or without the payment of such premium or premiums as may be determined by the authority;

C. may mature at any time or times not exceeding forty years after the date of issuance;

D. may be serial in form and maturity or may consist of one bond payable at one time or in installments or may be in such other form as may be determined by the authority;

E. shall be sold for cash at above or below par and at a price that results in a net effective interest rate that does not exceed the maximum permitted by the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978]; and

F. may be sold at public or negotiated sale.

History: Laws 2010, ch. 39, § 11.

Effective dates. — Laws 2010, ch. 39, § 21 made the Eastern New Mexico Water Utility Authority Act effective July 1, 2010.

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