§ 74-10-88 — Funding

For the purpose of funding any interim debenture or interim debentures, any bond or bonds pledged as collateral security to secure the payment of such interim debenture or interim debentures may be reissued without an election, and any bonds not previously issued but authorized to be issued at an election for a purpose the same as or encompassing the purpose for which the interim debentures were issued may be issued for such a funding. Any such bonds shall mature at such time as the board may determine, but in no event exceeding forty years from the date of either any of the interim debentures so funded or any of the bonds so pledged as collateral security, whichever date is the earlier. Bonds for funding, including but not necessarily limited to any such reissued bonds, and bonds for any other purpose or purposes authorized in the Solid Waste Authority Act may be issued separately or issued in combination in one series or more. Except as otherwise provided in Sections 83 and 88 [74-10-83 and 74- 10-88 NMSA 1978] of that act and in this section, any such funding bonds shall be issued as is provided for refunding bonds in Sections 78 through 84 [74-10-78 to 74-10- 84 NMSA 1978] of the Solid Waste Authority Act and provided for securities in Section 44 and Sections 81 through 87 [74-10-44 and 74-10-81 to 74-10-87 NMSA 1978] of that act.

Legislative History

Laws 1993, ch. 319, § 88.