Except as changed or necessarily implied with reference to refunding, all provisions of the Institution Bond Act apply to the authorization and issuance of refunding bonds, including their terms and security, the bond resolution, taxes, the method of bond payment and other provisions. The determination of the governing board of the institution issuing the refunding bonds that the provisions of the Institution Bond Act have been complied with is conclusive in the absence of fraud or arbitrary and gross abuse of discretion.
History: 1953 Comp., § 11-9-26, enacted by Laws 1963, ch. 298, § 14.
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.