The allocation expiration date may be extended by the board for each allocation; provided, however, that the allocation expiration date for any allocation shall automatically be extended for thirty days with respect to that part of the allocation used by an issuing authority for private activity bonds which have been sold but not issued on or before the allocation expiration date.
§ 6-20-10 NMSA 1978
Extensions
Known as the Private Activity Bond Act
The act spans §§ 6–6 (11 sections).
Laws 1988, ch. 46, § 10.
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.