A. The New Mexico Renewable Energy Transmission Authority Act is, without reference to any other act of the legislature, full authority for the issuance and sale of renewable energy transmission bonds, which bonds shall have all the qualities of investment securities under the Uniform Commercial Code [Chapter 55 NMSA 1978] and shall not be invalid for any irregularity or defect or be contestable in the hands of bona fide purchasers or holders thereof for value.
B. The bonds are legal investments for any person or board charged with the investment of any public funds and are acceptable as security for any deposit of public money.
History: Laws 2007, ch. 3, § 10.
Effective date. — Laws 2007, ch. 3, § 19 made Laws 2007, ch. 3, § 10 effective July 1, 2007.
Structure New Mexico Statutes
Chapter 62 - Electric, Gas and Water Utilities
Article 16A - New Mexico Renewable Energy Transmission Authority Act
Section 62-16A-1 - Short title.
Section 62-16A-2 - Definitions.
Section 62-16A-3 - New Mexico renewable energy transmission authority created; organization.
Section 62-16A-4 - Authority; duties and powers.
Section 62-16A-5 - Renewable energy transmission bonds; appropriation of proceeds.
Section 62-16A-6 - Renewable energy transmission bonding fund created; money in the fund pledged.
Section 62-16A-7 - Authority to refund bonds.
Section 62-16A-8 - Renewable energy transmission bonds; form; execution.
Section 62-16A-9 - Procedure for sale of renewable energy transmission bonds.
Section 62-16A-11 - Suit may be brought to compel performance of officers.
Section 62-16A-12 - Renewable energy transmission bonds tax exempt.
Section 62-16A-13 - Renewable energy transmission authority operational fund.
Section 62-16A-14 - Report to legislature.