Any bonds issued under the State Park and Recreation Bond Act [16-2-20 to 16-2-29 NMSA 1978] may be refunded under the terms of written orders issued by the director subject to any contractual limitations involved with outstanding bonds, claims or other obligations. Proceeds of refunding bonds shall be applied to retirement of the bonds to be retired or refunded, or placed in escrow to be applied to payment of the bonds upon presentation for payment by the holders. Refunding bonds shall be issued under all applicable conditions prescribed in the State Park and Recreation Bond Act for the issuance of original bonds.
History: 1978 Comp., § 16-2-28, enacted by Laws 1965, ch. 280, § 9; 1977, ch. 254, § 123.
Structure New Mexico Statutes
Chapter 16 - Parks, Recreation and Fairs
Article 2 - State Parks Division
Section 16-2-2 - State parks advisory board created; membership; compensation; duties.
Section 16-2-2.1 - State park volunteers.
Section 16-2-3 - Meaning of designations.
Section 16-2-5 - Director of division; qualifications.
Section 16-2-7 - Rules and regulations.
Section 16-2-7.1 - Free state park passes to disabled veterans.
Section 16-2-9 - Concessions in parks; contracts; board of finance approval.
Section 16-2-9.1 - State park passes; vendors.
Section 16-2-10 - Secretary and employees prohibited from having interest in concessions.
Section 16-2-11 - Acquisition of lands for park and recreational purposes; criteria.
Section 16-2-12 - Acquisition of federal land for park and recreational uses.
Section 16-2-13 - Title to park and recreational lands; acceptance.
Section 16-2-14 - Prior donations and grants accepted and confirmed.
Section 16-2-15 - Secretary's power to authorize transfer of park lands.
Section 16-2-15.1 - Elephant Butte lake lease lot lands; release of lease with federal government.
Section 16-2-18 - Acceptance of donations of money, equipment or material.
Section 16-2-19 - State park and recreation revenues; source and disbursement.
Section 16-2-19.1 - Motorboat fuel tax fund; appropriation.
Section 16-2-20 - Short title.
Section 16-2-21 - Purpose of act.
Section 16-2-22 - Bonding authority.
Section 16-2-23 - Form of bonds.
Section 16-2-24 - Sale of bonds.
Section 16-2-25 - Proceeds from sale of bonds.
Section 16-2-26 - Construction.
Section 16-2-27 - Tax exemptions.
Section 16-2-29 - Security; retirement of bonds.