Upon recommendation of the state treasurer, the state board of finance may, be [by] resolution, provide for the issuance of refunding bonds to refund any outstanding bonds issued under the Student Loan Act, together with accrued interest thereon. Provisions governing the issuance and sale of bonds under the Student Loan Act govern the issuance and sale of refunding bonds insofar as applicable. Refunding bonds may be exchanged for the outstanding bonds or may be sold and the proceeds used to retire the outstanding bonds. History: 1953 Comp., § 73-38-9, enacted by Laws 1970, ch. 82, § 9. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations §§ 261 to 269, 445. Right to call governmental bonds in advance of their maturity, 109 A.L.R. 988. Governmental unit's power to issue bonds as implying power to refund them, 1 A.L.R.2d 134.
New Mexico Legal Code