The said bonds signed, countersigned, endorsed and sealed as provided in this act [6-12-6 to 6-12-14 NMSA 1978], and coupons thereto attached, when sold, shall constitute a valid and binding obligation upon the state of New Mexico, although the sale thereof be made at a date or dates after the persons so signing, countersigning and endorsing same shall have ceased to be the incumbents of their respective offices.
History: Laws 1935, ch. 4, § 5; 1941 Comp., § 7-510; 1953 Comp., § 11-5-10.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Structure New Mexico Statutes
Article 12 - State Indebtedness
Section 6-12-1 - [Borrowing or investing permanent funds to pay interest on state bonds.]
Section 6-12-2 - Certificates of indebtedness and interest; treasurer may borrow to pay.
Section 6-12-4 - [Public sale of securities.]
Section 6-12-5 - [Application of act.]
Section 6-12-6 - State refunding bonds; authorized; purpose.
Section 6-12-7 - Refunding bond issuance; procedure.
Section 6-12-8 - Refunding bonds; formal requisites; registration.
Section 6-12-11 - [Exchange for bonds to be refunded; sale; disposition of proceeds.]
Section 6-12-12 - [Irrepealable contract; irregularities and defects waived; tax exemption.]
Section 6-12-14 - [Bonds surrendered for refunding; entries; destruction.]
Section 6-12-15 - State bond guarantee fund; creation; purposes.