Bonds issued under the provisions of the County Industrial Revenue Bond Act shall be legal investments for savings banks and insurance companies organized under the laws of this state.
History: 1953 Comp., § 15-60-11, enacted by Laws 1975, ch. 286, § 11.
Structure 2021 New Mexico Statutes
Article 59 - County Industrial Revenue Bonds
Section 4-59-3 - Legislative intent.
Section 4-59-4 - Additional powers conferred on counties.
Section 4-59-4.2 - Electric transmission projects; payments to the state.
Section 4-59-5 - Bonds issued to finance projects.
Section 4-59-6 - Security for bonds.
Section 4-59-7 - Requirements respecting lease.
Section 4-59-8 - Refunding bonds.
Section 4-59-9 - Use of proceeds from sale of bonds.
Section 4-59-9.1 - Procedure for issuing industrial revenue bonds or refunding bonds.
Section 4-59-10 - No contribution by county.
Section 4-59-11 - Bonds made legal investments.
Section 4-59-12 - Exemption from taxation.
Section 4-59-13 - Construction of act.
Section 4-59-14 - No notice or publication required.