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NMSA 1978 Chapter 7 — Taxation

NMSA 1978, § 7-27-11

Authority to refund bonds

Official textnmonesource.comlast amended

# 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.

Amendment history

1953 Comp., § 72-18-36, enacted by Laws 1961, ch. 5, § 9; 1985 (1st S.S.), ch. 15, § 13; 1999 (1st S.S.), ch. 6, § 5.

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

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  2. 7-27-5.16 · Repealed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  9. 7-27-5.23 · Repealed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  11. 7-27-5.25 · Repealed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  22. 7-27-11.1 · Repealed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