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NMSA 1978 Chapter 7 — Taxation

NMSA 1978, § 7-27-10

State board of finance shall issue bonds

Official textnmonesource.comlast amended

# A.

The state board of finance is authorized to issue and sell severance tax bonds within the provisions of the Severance Tax Bonding Act, and no other agency of the state is authorized to issue or sell severance tax bonds.

# B.

For fiscal year 2024, the state board of finance is authorized to issue and sell up to five hundred million dollars ($500,000,000) of severance tax bonds or notes in addition to all other authorized issuances. The actual amount shall be determined by the state board of finance after all other authorized issuances are made. Proceeds from the sale of these bonds or notes shall be deposited in the capital development and reserve fund.

# C.

The state board of finance may issue and sell supplemental severance tax bonds within the provisions of the Severance Tax Bonding Act, and no other agency of the state is authorized to issue or sell supplemental severance tax bonds.

Amendment history

1953 Comp., § 72-18-35, enacted by Laws 1961, ch. 5, § 8; 1999 (1st S.S.), ch. 6, § 4; 2019, ch. 273, § 1; 2023, ch. 124, § 1; 2024, ch. 56, § 1.

Source: official source (NMSA chapter on nmonesource.com)

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In this article (40 sections)
  1. 7-27-5.12 · Repealed
  2. 7-27-5.13 · 7-27-5.13
  3. 7-27-5.14 · Findings and purpose
  4. 7-27-5.15 · 7-27-5.15
  5. 7-27-5.16 · Repealed
  6. 7-27-5.17 · Employers mutual company revenue bonds
  7. 7-27-5.18 · Purpose
  8. 7-27-5.19 · Deposits in New Mexico financial institutions; limitations
  9. 7-27-5.20 · Deposits in New Mexico credit unions
  10. 7-27-5.21 · New Mexico lottery revenue bonds
  11. 7-27-5.22 · 7-27-5.22
  12. 7-27-5.23 · Repealed
  13. 7-27-5.24 · 7-27-5.24
  14. 7-27-5.25 · Repealed
  15. 7-27-5.26 · Investment in films to be produced in New Mexico
  16. 7-27-5.27 · Local government emergency economic relief
  17. 7-27-6 · Severance tax bonding fund pledged
  18. 7-27-7 · Special income to retire bonds
  19. 7-27-8 · Transfer of money to severance tax permanent fund
  20. 7-27-9 · 7-27-9
  21. 7-27-10 · State board of finance shall issue bonds
  22. 7-27-10.1 · 7-27-10.1
  23. 7-27-10.2 · 7-27-10.2
  24. 7-27-11 · Authority to refund bonds
  25. 7-27-11.1 · Repealed
  26. 7-27-12 · When severance tax bonds to be issued
  27. 7-27-12.1 · 7-27-12.1
  28. 7-27-12.2 · 7-27-12.2
  29. 7-27-12.3 · 7-27-12.3
  30. 7-27-12.4 · 7-27-12.4
  31. 7-27-12.5 · 7-27-12.5
  32. 7-27-12.6 · 7-27-12.6
  33. 7-27-12.7 · 7-27-12.7
  34. 7-27-13 · Reserved
  35. 7-27-14 · Amount of tax; security for bonds
  36. 7-27-15 · Majority approval necessary for board action
  37. 7-27-16 · Form of bonds
  38. 7-27-17 · Execution of bonds
  39. 7-27-18 · Procedure for sale of bonds
  40. 7-27-19 · 7-27-19
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