Any securities authorized to be issued in the Eastern Sandoval County Arroyo Flood Control Act shall bear the date or dates, shall be in the denomination or denominations, shall mature at the time or times but in no event exceeding forty years from their date or any shorter limitation provided in that act, shall bear interest that may be evidenced by one or two sets of coupons, payable annually or semiannually, except that the first coupon or coupons, if any, appertaining to any security may represent interest for any period not in excess of one year, as may be prescribed by resolution or other instrument; and the securities and any coupons shall be payable in the medium of payment at any banking institution or other place or places within or without the state, including but not limited to the office of the treasurer of the county in which the authority is located wholly or in part, as determined by the board, and the securities at the option of the board may be in one or more series, may be made subject to prior redemption in advance of maturity in the order or by lot or otherwise at the time or times without or with the payment of the premium or premiums not exceeding six percent of the principal amount of each security so redeemed, as determined by the board.
History: Laws 2007, ch. 99, § 56.
Emergency clauses. — Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
Structure New Mexico Statutes
Article 20 - Eastern Sandoval County Arroyo Flood Control Act
Section 72-20-1 - Short title.
Section 72-20-2 - Legislative declaration.
Section 72-20-3 - Decision of board or governing body final.
Section 72-20-4 - Definitions.
Section 72-20-5 - Creation of authority.
Section 72-20-6 - Boundaries of authority.
Section 72-20-7 - Petition for exclusion.
Section 72-20-8 - Board of directors.
Section 72-20-9 - Appointment of first board; initial management.
Section 72-20-10 - Election of directors; single-member districts.
Section 72-20-11 - Nomination of directors.
Section 72-20-12 - Filling vacancies on the board.
Section 72-20-13 - Organizational meetings.
Section 72-20-14 - Board's administrative powers.
Section 72-20-15 - Records of board.
Section 72-20-16 - Meetings of the board.
Section 72-20-17 - Compensation of directors.
Section 72-20-18 - Interest in contracts and property disqualifications.
Section 72-20-19 - Flood control system; hearings.
Section 72-20-20 - Implementing powers.
Section 72-20-21 - Protection of property rights.
Section 72-20-22 - Additional powers of the authority.
Section 72-20-23 - Levy and collection of taxes.
Section 72-20-24 - Levies to cover deficiencies.
Section 72-20-25 - Sinking fund.
Section 72-20-26 - Manner of levying and collecting taxes.
Section 72-20-27 - Delinquent taxes.
Section 72-20-35 - Dissolution of authority.
Section 72-20-36 - Filing of dissolution resolution.
Section 72-20-37 - Disposition of property, funds and taxes of authority.
Section 72-20-38 - Powers of public bodies.
Section 72-20-39 - Effects of extraterritorial functions.
Section 72-20-40 - Forms of borrowing.
Section 72-20-41 - Issuance of notes.
Section 72-20-42 - Issuance of warrants.
Section 72-20-43 - Maturities of notes and warrants.
Section 72-20-44 - Issuance of bonds and incurrence of debt.
Section 72-20-45 - Issuance of temporary bonds.
Section 72-20-46 - Issuance of interim debentures.
Section 72-20-47 - Payment of securities.
Section 72-20-48 - Additionally secured securities.
Section 72-20-49 - Pledge of revenues.
Section 72-20-50 - Ranking among different issues.
Section 72-20-51 - Ranking among securities of same issue.
Section 72-20-52 - Payment recital in securities.
Section 72-20-53 - Incontestable recital in securities.
Section 72-20-54 - Limitations upon payment of securities.
Section 72-20-55 - Limitations upon incurring any debt.
Section 72-20-56 - Security details.
Section 72-20-57 - Capitalization of costs.
Section 72-20-58 - Other security details.
Section 72-20-59 - Reissuance of securities.
Section 72-20-60 - Negotiability.
Section 72-20-61 - Single bonds.
Section 72-20-62 - Lost or destroyed securities.
Section 72-20-63 - Execution of securities.
Section 72-20-64 - Interest coupons.
Section 72-20-65 - Facsimile signatures.
Section 72-20-66 - Facsimile seal.
Section 72-20-67 - Signatures of predecessors in office.
Section 72-20-68 - Facsimile signatures of predecessors.
Section 72-20-69 - Repurchase of securities.
Section 72-20-70 - Customary provisions.
Section 72-20-71 - Sale of securities.
Section 72-20-72 - Sale discount or commission prohibited.
Section 72-20-73 - Application of proceeds.
Section 72-20-74 - Use of unexpended proceeds.
Section 72-20-75 - Validity unaffected by use of proceeds.
Section 72-20-76 - Covenants in security proceedings.
Section 72-20-77 - Remedies of security holders.
Section 72-20-78 - Limitations upon liabilities.
Section 72-20-79 - Cancellation of paid securities.
Section 72-20-80 - Interest after maturity.
Section 72-20-81 - Refunding bonds.
Section 72-20-82 - Method of issuance.
Section 72-20-83 - Limitations upon issuance.
Section 72-20-84 - Use of refunding bond proceeds.
Section 72-20-85 - Payment of refunding bonds.
Section 72-20-86 - Combination of refunding and other bonds.
Section 72-20-87 - Supplemental provisions.
Section 72-20-88 - Board's determination final.
Section 72-20-89 - Issuance of interim debentures and pledge of bonds as collateral security.
Section 72-20-90 - Interim debentures not to be extended.
Section 72-20-92 - Publication of resolution or proceedings.
Section 72-20-93 - Failure to contest legality constitutes bar.
Section 72-20-94 - Confirmation of contract proceedings.
Section 72-20-95 - Review and judgment of court.
Section 72-20-96 - Purpose of tax exemptions.
Section 72-20-97 - Property exempt from general taxes.
Section 72-20-98 - Securities and income therefrom exempt.
Section 72-20-99 - Freedom from judicial process.
Section 72-20-100 - Resort to judicial process.
Section 72-20-101 - Legal investments in securities.