N.M. Admin. Code § 19.25.10.19

Current through Register Vol. 35, No. 21, November 5, 2024

Section 19.25.10.19 - BOND ISSUANCE

A. The authority may issue and sell revenue bonds as required to provide funds to:

(1) replenish the principal balance of the water project fund;

(2) pay, fund or refund the principal of or interest or redemption premiums, if any, on bonds issued by the authority whether the bonds or interest to be paid, funded or refunded have or have not become due;

(3) establish or increase reserve funds to secure bonds; and

(4) pay the costs and expenses incident to the issuance of bonds.

B. The authority will consider market and other economic conditions in determining the type of sale and the timing of the issuance of bonds.

C. The bonds shall be authorized and issued by the authority in accordance with the provisions of the New Mexico Finance Authority Act, Chapter 6, Article 21, NMSA 1978.

N.M. Admin. Code § 19.25.10.19

19.25.10.19 NMAC - Rp, 19.25.10.19 NMAC, 7/31/08