The authority may issue and sell at public or private sale bonds to refund outstanding renewable energy transmission bonds by exchange, immediate or prospective redemption, cancellation or escrow, including the escrow of debt service funds accumulated for payment of outstanding bonds, or any combination thereof, when, in its opinion, such action will be beneficial to the state.
History: Laws 2007, ch. 3, § 7.
Effective date. — Laws 2007, ch. 3, § 19 made Laws 2007, ch. 3, § 7 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.