Refunding bonds issued under the Institution Bond Act may be made payable from income from the permanent fund and from the income and current fund of the issuing institution, regardless of any modification thereby effected of the pledge of these sources for payment of the outstanding bonds to be retired and refunded.
§ 6-13-23 NMSA 1978
Refunding; payment of bonds
Known as the Institution Bond Act
The act spans §§ 6–6 (26 sections).
1953 Comp., § 11-9-23, enacted by Laws 1963, ch. 298, § 11.
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.