The authority may issue and sell at public or private sale bonds to refund outstanding renewable energy transmission bonds by exchange, immediate or prospective redemption, cancellation or escrow, including the escrow of debt service funds accumulated for payment of outstanding bonds, or any combination thereof, when, in its opinion, such action will be beneficial to the state.
§ 62-16A-7 NMSA 1978
Authority to refund bonds
Known as the New Mexico Renewable Energy Transmission Authority Act
The act spans §§ 62–62 (16 sections).
Laws 2007, ch. 3, § 7.
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.