Any pledge made by the council shall be valid and binding from the time when the pledge is made. The revenue, money or properties pledged and later received by the council shall immediately be subject to the lien of such pledge without any further act, and the lien of any such pledge is valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the program, irrespective of whether the parties have notice thereof.
History: Laws 1983, ch. 290, ยง 22.
Structure New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 23 - Hospital Equipment Loans
Section 58-23-1 - Short title.
Section 58-23-2 - Legislative findings.
Section 58-23-3 - Definitions.
Section 58-23-4 - Additional definitions.
Section 58-23-5 - Council; created; members; qualifications; board.
Section 58-23-6 - Council; board of directors; terms and conditions of service.
Section 58-23-7 - Board; expenses.
Section 58-23-8 - Board; quorum.
Section 58-23-9 - Meetings of the board.
Section 58-23-10 - Board; bonding requirements.
Section 58-23-12 - Council; duties.
Section 58-23-14 - Optional powers.
Section 58-23-15 - Issuance of bonds.
Section 58-23-16 - Terms of payment and sale of bonds.
Section 58-23-16.1 - Interest rates; refunding; approval by council; findings.
Section 58-23-17 - Use of bond proceeds.
Section 58-23-18 - Bonds secured by trust indenture.
Section 58-23-19 - Security for payment of bonds.
Section 58-23-20 - General obligation bonds; payment and security.
Section 58-23-21 - Bonds; no obligation of state.
Section 58-23-22 - Council; pledge; recording of lien not required.
Section 58-23-23 - Purchase of bonds; cancellation; purchase price.
Section 58-23-24 - Bonds; negotiable instruments.
Section 58-23-25 - Council members; limitation on personal liability.
Section 58-23-26 - Deposit of money.
Section 58-23-27 - Bondholders; pledge; agreement of the state.
Section 58-23-28 - Council expenses; liability of state or political subdivision prohibited.
Section 58-23-29 - Exemption from taxation; assets to state upon dissolution.
Section 58-23-30 - Bonds; legal investments.
Section 58-23-31 - Loan program; annual report; contents; audit.