New Mexico § 22-19A-9 Bonds; form; requirements

New Mexico Statutes

§ 22-19A-9 — Bonds; form; requirements

New Mexico § 22-19A-9

Ch. 22Public Schools

Art. 19ATeacher Housing Revenue Bond

This text of New Mexico § 22-19A-9 (Bonds; form; requirements) 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. § 22-19A-9 (2026).

Text

All bonds issued pursuant to the Teacher Housing Revenue Bond Act shall: A. be fully negotiable within the provisions of the Uniform Commercial Code [Chapter 55 NMSA 1978]; B. have a duration of time not to exceed forty years from their date of issuance; C. have interest, appreciated principal value or any part thereof payable at intervals or at maturity as determined by the local school board; D. be sold at a price that does not result in a net effective interest rate in excess of twelve percent a year unless a higher rate of interest is approved by the state board of finance pursuant to the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978]; E. have a principal maturity schedule as determined by the local school board; and F. be sold at public or private sale at, above or below par.

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All bonds issued pursuant to the Teacher Housing Revenue Bond Act shall: A. be fully negotiable within the provisions of the Uniform Commercial Code [Chapter 55 NMSA 1978]; B. have a duration of time not to exceed forty years from their date of issuance; C. have interest, appreciated principal value or any part thereof payable at intervals or at maturity as determined by the local school board; D. be sold at a price that does not result in a net effective interest rate in excess of twelve percent a year unless a higher rate of interest is approved by the state board of finance pursuant to the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978]; E. have a principal maturity schedule as determined by the local school board; and F. be sold at public or private sale at, above or below par.