Any securities herein authorized, except for warrants not issued for cash and except for temporary bonds issued pending preparation of definitive bond or bonds, shall be sold at public or private sale at, above or below par at a net effective interest rate not exceeding the maximum net effective interest rate permitted by the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978], as hereafter amended and supplemented. History: 1953 Comp., § 75-36-71, enacted by Laws 1963, ch. 311, § 71; 1983, ch. 265, § 52. ANNOTATIONSThe 1983 amendment rewrote the section. Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations §§ 218, 228. 64 C.J.S. Municipal Corporations § 1930.
New Mexico Legal Code