NMSA 1978, § 7-27-22 — 7-27-22

Severance tax bonding act to be full authority for issuance
of bonds.
The Severance Tax Bonding Act shall, without reference to any other act of the
legislature, be full authority for the issuance and sale of severance tax bonds and
supplemental severance tax bonds, which bonds and the coupons attached thereto
shall have all the qualities of investment securities under the Uniform Commercial Code
[Chapter 55 NMSA 1978] and shall not be invalid for any irregularity or defect or be
contestable in the hands of bona fide purchasers or holders thereof for value.