Any securities herein authorized, except for warrants not issued for cash and except for temporary bonds issued pending preparation of definitive bond or bonds, shall be sold at public or private sale at, above or below par at a net effective interest rate not exceeding the maximum net effective interest rate permitted by the Public Securities Act [ 6-14-1 to 6-14-3 NMSA 1978], as hereafter amended and supplemented.
§ 72-16-71 NMSA 1978
Sale of securities
Known as the Arroyo Flood Control Act
The act spans §§ 72–72 (104 sections).
1953 Comp., § 75-36-71, enacted by Laws 1963, ch. 311, § 71; 1983, ch. 265, § 52.
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.