™Your Policy Risk Impact Agent
772 sections in this chapter.
NMSA 1978, § 72-20-8 Board of directors
1.7K chars
A. The governing body of the authority is a board of directors consisting of three qualified electors of the authority; provided that, after single-member districts are created pursuant to Subsection B of Section 72-20-10 NMSA 1978 and after the expiration of the terms of any dir…
NMSA 1978, § 72-20-80 Interest after maturity
0.4K chars
No interest shall accrue on any security in the Eastern Sandoval County Arroyo Flood Control Act authorized after it becomes due and payable; provided that funds for the payment of the principal of and the interest on the security and any prior redemption premium due are availabl…
NMSA 1978, § 72-20-81 Refunding bonds
0.9K chars
Any bonds issued under the Eastern Sandoval County Arroyo Flood Control Act may be refunded, without an election, but subject to provisions concerning their payment and to any other contractual limitations in the proceedings authorizing their issuance or otherwise appertaining th…
NMSA 1978, § 72-20-82 Method of issuance
0.3K chars
Any bonds issued for refunding purposes may either be delivered in exchange for the outstanding bonds authorized to be refunded or may be sold as provided in the Eastern Sandoval County Arroyo Flood Control Act for the sale of other bonds. History: Laws 2007, ch. 99, § 82.
NMSA 1978, § 72-20-83 Limitations upon issuance
1.1K chars
No bonds may be refunded under the Eastern Sandoval County Arroyo Flood Control Act unless the holders of the bonds voluntarily surrender them for exchange or payment or unless they either mature or are callable for prior redemption under their terms within ten years from the dat…
NMSA 1978, § 72-20-84 Use of refunding bond proceeds
1.3K chars
The proceeds of refunding bonds shall either be immediately applied to the retirement of the bonds to be refunded or be placed in escrow to be applied to the payment of the bonds upon their presentation; provided, however, any accrued interest and any premium appertaining to a sa…
NMSA 1978, § 72-20-85 Payment of refunding bonds
0.4K chars
Refunding revenue bonds may be made payable from any revenues derived from the operation of the flood control system or any project, notwithstanding the pledge of such revenues for the payment of the outstanding bonds issued by the authority that are to be refunded is thereby mod…
NMSA 1978, § 72-20-86 Combination of refunding and other bonds
0.2K chars
Bonds for refunding and bonds for any other purpose or purposes authorized in the Eastern Sandoval County Arroyo Flood Control Act may be issued separately or issued in combination in one series or more. History: Laws 2007, ch. 99, § 86.
NMSA 1978, § 72-20-87 Supplemental provisions
0.4K chars
Except as specifically provided or necessarily implied in the Eastern Sandoval County Arroyo Flood Control Act, the relevant provisions of that act pertaining to bonds generally shall be equally applicable in the authorization and issuance of refunding bonds, including their term…
NMSA 1978, § 72-20-88 Board's determination final
0.3K chars
The determination of the board that the limitations imposed upon the issuance of refunding bonds under the Eastern Sandoval County Arroyo Flood Control Act have been met shall be conclusive in the absence of fraud or arbitrary and gross abuse of discretion. History: Laws 2007, ch…
NMSA 1978, § 72-20-89 Issuance of interim debentures and pledge of bonds as
2.1K chars
collateral security. Notwithstanding any limitation or other provision in the Eastern Sandoval County Arroyo Flood Control Act, whenever a majority of the qualified electors of the authority voting on a proposal to issue bonds has authorized the authority to issue bonds for any p…
NMSA 1978, § 72-20-9 Appointment of first board; initial management
1.1K chars
A. When the Eastern Sandoval County Arroyo Flood Control Act goes into effect, the governor shall forthwith appoint five qualified electors of the authority as the directors comprising the first board. They shall serve until their successors have been elected and qualified. Immed…
NMSA 1978, § 72-20-90 Interim debentures not to be extended
0.3K chars
No interim debenture issued pursuant to the provisions of Section 89 [72-20-89 NMSA 1978] of the Eastern Sandoval County Arroyo Flood Control Act shall be extended or funded except by the issuance or reissuance of a bond or bonds in compliance with Section 91 [72-20-91 NMSA 1978]…
NMSA 1978, § 72-20-91 Funding
1.5K chars
For the purpose of funding any interim debenture or interim debentures, any bond or bonds pledged as collateral security to secure the payment of such interim debenture or interim debentures may be reissued without an election, and any bonds not previously issued but authorized t…
NMSA 1978, § 72-20-92 Publication of resolution or proceedings
1.0K chars
In its discretion, the board may provide for the publication once in full of either any resolution or other proceedings adopted by the board ordering the issuance of any securities or, in the alternative, of notice thereof, which resolution, other proceedings or notice so publish…
NMSA 1978, § 72-20-93 Failure to contest legality constitutes bar
0.8K chars
If no such action or proceedings are commenced or instituted within sixty days after the first publication of such resolution, other proceedings or notice, then all residents and taxpayers and owners of property in the authority and all public bodies and all other persons whatsoe…
NMSA 1978, § 72-20-94 Confirmation of contract proceedings
2.0K chars
In its discretion, the board may file a petition at any time in the district court in and for any county in which the authority is located wholly or in part, praying a judicial examination and determination of any power conferred or of any tax or rates or charges levied or of any…
NMSA 1978, § 72-20-95 Review and judgment of court
1.0K chars
The petition and notice shall be sufficient to give the court jurisdiction, and upon hearing the court shall examine into and determine all matters and things affecting the question submitted, shall make such findings with reference thereto and render such judgment and decree the…
NMSA 1978, § 72-20-96 Purpose of tax exemptions
0.4K chars
The effectuation of the powers authorized in the Eastern Sandoval County Arroyo Flood Control Act shall and will be in all respects for the benefit of the people of the state, including but not necessarily limited to those residing in the authority exercising any power under that…
NMSA 1978, § 72-20-97 Property exempt from general taxes
0.3K chars
The authority shall not be required to pay any general (ad valorem) taxes upon any property appertaining to any project authorized in the Eastern Sandoval County Arroyo Flood Control Act and acquired within the state nor the authority's interest therein. History: Laws 2007, ch. 9…
NMSA 1978, § 72-20-98 Securities and income therefrom exempt
0.3K chars
Securities issued under the Eastern Sandoval County Arroyo Flood Control Act and the income therefrom shall forever be and remain free and exempt from taxation by the state, the authority and any other public body, except transfer, inheritance and estate taxes. History: Laws 2007…
NMSA 1978, § 72-20-99 Freedom from judicial process
0.3K chars
Execution or other judicial process shall not issue against any property of the authority authorized in the Eastern Sandoval County Arroyo Flood Control Act, nor shall any judgment against the authority be a charge or lien upon its property. History: Laws 2007, ch. 99, § 99.
