6-12-8. Refunding bonds; formal requisites; registration.
236 words·~1 min read·
/nm/chapter-6-public-finances/article-12-state-indebtedness/6-12-8·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
All refunding bonds issued under Sections 6-12-6 through 6-12-14 NMSA 1978 shall recite the title of the act under which they are issued, shall, except for bonds issued in book entry or similar form without the delivery of physical securities, be executed in the name of the state, signed by the governor, attested by the secretary of state under the seal of the state and countersigned by the state treasurer and shall be registered by the state auditor or other authorized registrar in a book or other record to be kept by the state auditor or such other authorized registrar for that purpose, which book or other record shall state the date, number, amount and maturity of each bond.
The interest accruing on the refunding bonds shall be payable semiannually and may be evidenced by semiannual interest coupons attached, bearing the facsimile signature of the state treasurer in office at the time the bonds and coupons are prepared and ordered to be engraved or lithographed and, when so executed, such coupons, if any, shall be the binding obligation of the state according to their import. The refunding bonds may also be in registered or other form as provided in the Supplemental Public Securities Act [6- 14-8 to 6-14-11 NMSA 1978], as hereinafter amended and supplemented.
History: Laws 1935, ch. 4, § 3; 1941 Comp., § 7-508; 1953 Comp., § 11-5-8; Laws 1983, ch. 265, § 25.