6-13-5. Bonds; form; terms.
104 words·~1 min read·
/nm/chapter-6-public-finances/article-13-institution-bonds/6-13-5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Bonds issued under the Institution Bond Act shall be payable not later than fifty years from the date of issue and in consecutive order commencing not later than two years from the date of issue. They shall be in denominations determined by the governing board of the state institution. The form of the bonds shall be determined by the governing board of the state institution and signatures may be affixed in compliance with the Uniform Facsimile Signature of Public Officials Act [6-9-1 to 6-9-6 NMSA 1978].
History: 1953 Comp., § 11-9-5, enacted by Laws 1963, ch. 298, § 5; 1983, ch. 265, § 26.