New Mexico § 16-2-28 Refunding

New Mexico Statutes

§ 16-2-28 — Refunding

New Mexico § 16-2-28

Ch. 16Parks, Recreation and Fairs

Art. 2State Parks Division

This text of New Mexico § 16-2-28 (Refunding) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 16-2-28 (2026).

Text

Any bonds issued under the State Park and Recreation Bond Act [16-2-20 to 16-2- 29 NMSA 1978] may be refunded under the terms of written orders issued by the director subject to any contractual limitations involved with outstanding bonds, claims or other obligations. Proceeds of refunding bonds shall be applied to retirement of the bonds to be retired or refunded, or placed in escrow to be applied to payment of the bonds upon presentation for payment by the holders. Refunding bonds shall be issued under all applicable conditions prescribed in the State Park and Recreation Bond Act for the issuance of original bonds.

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Any bonds issued under the State Park and Recreation Bond Act [16-2-20 to 16-2- 29 NMSA 1978] may be refunded under the terms of written orders issued by the director subject to any contractual limitations involved with outstanding bonds, claims or other obligations. Proceeds of refunding bonds shall be applied to retirement of the bonds to be retired or refunded, or placed in escrow to be applied to payment of the bonds upon presentation for payment by the holders. Refunding bonds shall be issued under all applicable conditions prescribed in the State Park and Recreation Bond Act for the issuance of original bonds.