The bonds may be secured by a trust indenture between the authority and a corporate trustee which may be either a bank having trust powers or a trust company. The trust indenture may contain reasonable provisions for protecting and enforcing the rights and remedies of bondholders, including covenants setting forth the duties of the authority in relation to the exercise of its powers and the custody, use and investment of the money. The authority may provide by the trust indenture for the payment of the proceeds of the bonds and the revenue to the trustee under the trust indenture or other depository for disbursement with such safeguards as the authority determines are necessary.
History: Laws 1992, ch. 61, ยง 13.
Structure 2021 New Mexico Statutes
Article 21 - Finance Authority
Section 6-21-2 - Legislative findings; declaration of purpose.
Section 6-21-5 - Powers of the authority.
Section 6-21-5.1 - Bonds for county correctional facility loans.
Section 6-21-6 - Public project revolving fund; purpose; administration.
Section 6-21-6.1 - Public project revolving fund; appropriations to other funds.
Section 6-21-6.3 - Water and wastewater project grant fund; creation; administration; purposes.
Section 6-21-6.4 - Local government planning fund; creation; administration; purposes.
Section 6-21-6.5 - New Mexico finance authority revenue bonds; purposes.
Section 6-21-6.8 - Local transportation infrastructure fund; creation; purpose; administration.
Section 6-21-6.9 - Local transportation project revenue bonds; issuance.
Section 6-21-6.10 - New Mexico finance authority revenue bonds; purpose; appropriation.
Section 6-21-6.11 - Rural county cancer treatment fund created; purpose; appropriation.
Section 6-21-6.12 - Local government transportation fund; created; distributions.
Section 6-21-6.13 - Metropolitan court bond guarantee fund.
Section 6-21-6.14 - Lease purchase revenue bonds; lease purchase agreements.
Section 6-21-7 - Public project finance program; duties of authority.
Section 6-21-8 - Public project finance program; loans; purchase or sale of securities.
Section 6-21-9 - Public project financing; powers of qualified entities.
Section 6-21-10 - Purchases in name of authority; documentation.
Section 6-21-11 - Bonds of the authority; use; security.
Section 6-21-12 - Bonds; authorization for issuance; terms and conditions.
Section 6-21-13 - Bonds secured by trust indenture.
Section 6-21-14 - Publication of notice; validation; limitation of action.
Section 6-21-15 - Refunding bonds.
Section 6-21-16 - Bond anticipation notes.
Section 6-21-17 - Remedies of bondholders.
Section 6-21-18 - Agreement of the state.
Section 6-21-19 - Bonds; legal investments for public officers and fiduciaries.
Section 6-21-20 - Tax exemption.
Section 6-21-21 - Money of the authority; expenses; audit; annual report.
Section 6-21-22 - Corporate existence.
Section 6-21-23 - Prohibited actions.
Section 6-21-24 - Conflicts of interest; penalty.
Section 6-21-25 - Limitation of liability.
Section 6-21-26 - Court proceedings; preference; venue.
Section 6-21-27 - Cumulative authority.
Section 6-21-28 - Liberal interpretation.
Section 6-21-29 - Severability.
Section 6-21-30 - New Mexico finance authority oversight committee.