A. The officials now or hereafter charged by law with the duty of levying ad valorem taxes for the payment of bonds and interest shall, in the manner provided by law, make an annual levy sufficient to meet the annual or semiannual payments of principal and interest on the maturing general obligation bonds or the refunding bonds or the mandatory sinking fund payments, if such fund is created by the board of trustees.
B. The provisions of Subsection A of this section shall not be construed as to prevent the special hospital district from applying any other funds that it may have or investment income actually received from sinking fund investments and available for that purpose to the payment of the interest on or the principal of, or any prior redemption premium in connection with, such bonds as the same become due; and upon such payments, the levy or levies provided in this section may thereupon to that extent be diminished.
History: 1978 Comp., § 4-48A-14, enacted by Laws 1978, ch. 29, § 14.
Structure 2021 New Mexico Statutes
Article 48A - Special Hospital Districts
Section 4-48A-1 - Short title.
Section 4-48A-2 - Definitions.
Section 4-48A-3.1 - Artesia special hospital district.
Section 4-48A-3.2 - Nor-Lea special hospital district.
Section 4-48A-3.3 - Jal special hospital district.
Section 4-48A-4 - Formation of special hospital district; petition.
Section 4-48A-5 - Formation of special hospital district; election.
Section 4-48A-5.1 - Voting in certain special hospital districts after formation.
Section 4-48A-6 - Board of trustees; terms; vacancies; removal.
Section 4-48A-7 - Board of trustees; qualifications; automatic removal.
Section 4-48A-8 - Board of trustees; organization; bond.
Section 4-48A-9 - Board of trustees; powers.
Section 4-48A-10 - Board of trustees; duties.
Section 4-48A-11 - Board of trustees; acquisition of existing hospital facilities; agreements.
Section 4-48A-12 - Board of trustees; issue of bonds.
Section 4-48A-13 - Bonds; form; interest; maturities.
Section 4-48A-14 - Imposition of tax for payment of bonds.
Section 4-48A-15 - Refunding bonds.
Section 4-48A-16 - Special tax imposed for special hospital district.
Section 4-48A-17 - Election procedures.
Section 4-48A-18 - Dissolution of the special hospital district.
Section 4-48A-20 - Hospital revenue bonds; authority to issue; pledge of revenues.
Section 4-48A-21 - Use of proceeds of bond issue.
Section 4-48A-22 - Revenue bonds; terms.
Section 4-48A-23 - Resolution authorizing revenue bonds.
Section 4-48A-24 - Revenue bonds not general obligations of special hospital district.
Section 4-48A-25 - Revenue bonds; security.
Section 4-48A-26 - Revenue bonds; exemption from taxation.
Section 4-48A-27 - Election not required.