Bonds issued under the provisions of the Pollution Control Revenue Bond Act shall be legal investments for savings banks and insurance companies organized under the laws of this state and shall be eligible for pledging as collateral for public deposits.
History: 1953 Comp., § 14-60-11, enacted by Laws 1973, ch. 397, § 11.
Structure New Mexico Statutes
Article 59 - Pollution Control Revenue Bonds
Section 3-59-2 - Pollution Control Revenue Bond Act; definitions.
Section 3-59-3 - Legislative intent.
Section 3-59-4 - Additional powers conferred on municipalities.
Section 3-59-5 - Bonds issued to finance projects.
Section 3-59-6 - Security for bonds.
Section 3-59-7 - Requirements respecting lease, or agreement of sale.
Section 3-59-8 - Refunding bonds.
Section 3-59-9 - Use of proceeds from sale of bonds.
Section 3-59-10 - No contribution by municipality.
Section 3-59-11 - Bonds made legal investments.
Section 3-59-12 - Exemption from taxation.
Section 3-59-13 - Construction of act.
Section 3-59-14 - Proceedings for issuance and sale of bonds; no notice or publication required.