New Mexico Statutes
§ 22-19B-5 — Bond anticipation note details
New Mexico § 22-19B-5
This text of New Mexico § 22-19B-5 (Bond anticipation note details) 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. § 22-19B-5 (2026).
Text
A.Bond anticipation notes shall be authorized by resolution of the local school board and may be issued in such denominations as determined by the local school board.
B.Bond anticipation notes shall mature no later than one year from the date of issuance. The local school board shall covenant in the resolution authorizing the issuance of the bond anticipation notes to issue general obligation bonds in an amount necessary to retire the bond anticipation notes.
C.The annual interest rate and yield on the bond anticipation notes shall be stated in the resolution that authorizes the issuance of the bond anticipation notes; provided that the maximum net effective interest rate on bond anticipation notes shall not exceed ten percent a year.
D.Bond anticipation notes may be sold at, above or
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Legislative History
Laws 2002, ch. 54, § 5.
Nearby Sections
15
§ 22-1-1
Public School Code§ 22-1-1.1
Legislative findings and purpose§ 22-1-1.2
Legislative findings and purpose§ 22-1-11
Educational data system§ 22-1-16
Parental guidance for water safety§ 22-1-2
Definitions§ 22-1-2.1
Home school; requirementsCite This Page — Counsel Stack
Bluebook (online)
New Mexico § 22-19B-5, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/22/22-19B-5.