New Mexico § 7-24A-16 Sale of bonds

New Mexico Statutes

§ 7-24A-16 — Sale of bonds

New Mexico § 7-24A-16

Ch. 7Taxation

Art. 24ACounty and Municipal Gasoline Tax

This text of New Mexico § 7-24A-16 (Sale of bonds) 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. § 7-24A-16 (2026).

Text

A.Bonds may be sold at either public or private sale; provided that no such bonds may be sold at any price which does not result in an actual net interest cost to maturity, computed on the basis of standard tables of bond values, in excess of the maximum net effective interest rate permitted by the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978] or the Public Securities Short-term Interest Rate Act [6-18-1 to 6-18-16 NMSA 1978], as applicable.

B.If any county or municipal officer whose signature appears on any bond ceases to be an officer before delivery of the bonds, the signature is valid for all purposes as if the officer had remained in office until delivery.

C.All bonds are fully negotiable.

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A. Bonds may be sold at either public or private sale; provided that no such bonds may be sold at any price which does not result in an actual net interest cost to maturity, computed on the basis of standard tables of bond values, in excess of the maximum net effective interest rate permitted by the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978] or the Public Securities Short-term Interest Rate Act [6-18-1 to 6-18-16 NMSA 1978], as applicable. B. If any county or municipal officer whose signature appears on any bond ceases to be an officer before delivery of the bonds, the signature is valid for all purposes as if the officer had remained in office until delivery. C. All bonds are fully negotiable.