us-nm/stat
NMSA 1978, § 7-27-11 — Authority to refund bonds
A.
The state board of finance may issue and sell at public or private sale severance
tax bonds to refund outstanding severance tax bonds by exchange, immediate or
prospective redemption, cancellation or escrow, including the escrow of debt service
funds accumulated for payment of outstanding bonds, or any combination thereof when,
in its opinion, such action will be beneficial to the state.
B.
The state board of finance may issue and sell at public or private sale
supplemental severance tax bonds to refund outstanding supplemental severance tax
bonds by exchange, immediate or prospective redemption, cancellation or escrow,
including the escrow of debt service funds accumulated for payment of outstanding
supplemental severance tax bonds, or any combination thereof when, in its opinion,
such action will be beneficial to the state.
Source: official text