us-nm/stat
NMSA 1978, § 7-24A-16 — Sale of bonds
A.
Bonds may be sold at either public or private sale; provided that no such bonds
may be sold at any price which does not result in an actual net interest cost to maturity,
computed on the basis of standard tables of bond values, in excess of the maximum net
effective interest rate permitted by the Public Securities Act [6-14-1 to 6-14-3 NMSA
1978] or the Public Securities Short-term Interest Rate Act [6-18-1 to 6-18-16 NMSA
1978], as applicable.
B.
If any county or municipal officer whose signature appears on any bond ceases
to be an officer before delivery of the bonds, the signature is valid for all purposes as if
the officer had remained in office until delivery.
C.
All bonds are fully negotiable.
Source: official text