The council, subject to existing agreements with bondholders, has the power to purchase bonds of the council out of any funds available for that purpose, which may thereupon be canceled, at any reasonable price which, if the bonds are then redeemable, shall not exceed the applicable redemption price plus accrued interest to the next interest payment date thereon.
§ 58-23-23 NMSA 1978
Purchase of bonds; cancellation; purchase price
Known as the Hospital Equipment Loan Act
The act spans §§ 58–58 (33 sections).
Laws 1983, ch. 290, § 23; 1987, ch. 49, § 6.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.