Refunding bonds issued under the Institution Bond Act may be made payable from income from the permanent fund and from the income and current fund of the issuing institution, regardless of any modification thereby effected of the pledge of these sources for payment of the outstanding bonds to be retired and refunded.
History: 1953 Comp., § 11-9-23, enacted by Laws 1963, ch. 298, § 11.
Structure 2021 New Mexico Statutes
Article 13 - Institution Bonds
Section 6-13-2 - State institutions.
Section 6-13-3 - General borrowing authority.
Section 6-13-4 - General bonding authority.
Section 6-13-5 - Bonds; form; terms.
Section 6-13-6 - [Sale of bonds.]
Section 6-13-7 - [Proceeds from sale of bonds; building and improvement fund; expenditures.]
Section 6-13-8 - [Interest and retirement fund; establishment; purpose.]
Section 6-13-9 - [Pledge of income from permanent funds of state institutions.]
Section 6-13-11 - Bond payment.
Section 6-13-13 - [Bonds issued in series.]
Section 6-13-14 - [Limitation on amount of issue.]
Section 6-13-15 - [Exemption from taxation.]
Section 6-13-16 - [Funds derived from sale of bonds; restrictions on use.]
Section 6-13-17 - [Issuance and sale of bonds; approval of state board of finance.]
Section 6-13-18 - Security; priority of liens.
Section 6-13-19 - Refunding; purposes.
Section 6-13-20 - Refunding; issuance of bonds.
Section 6-13-21 - Refunding; conditions of bonds.
Section 6-13-22 - Refunding; escrowed proceeds.
Section 6-13-23 - Refunding; payment of bonds.
Section 6-13-24 - Refunding; bonds retired.
Section 6-13-25 - Refunding; priority of liens.