New Mexico Administrative Code
Title 19 - NATURAL RESOURCES AND WILDLIFE
Chapter 25 - ADMINISTRATION AND USE OF WATER - GENERAL PROVISIONS
Part 10 - REVIEW AND ELIGIBILITY OF PROPOSED WATER PROJECTS
Section 19.25.10.19 - BOND ISSUANCE
Universal Citation: 19 NM Admin Code 19.25.10.19
Current through Register Vol. 35, No. 6, March 26, 2024
A. The authority may issue and sell revenue bonds as required to provide funds to:
(1) replenish the principal balance of the
water project fund;
(2) pay, fund
or refund the principal of or interest or redemption premiums, if any, on bonds
issued by the authority whether the bonds or interest to be paid, funded or
refunded have or have not become due;
(3) establish or increase reserve funds to
secure bonds; and
(4) pay the costs
and expenses incident to the issuance of bonds.
B. The authority will consider market and other economic conditions in determining the type of sale and the timing of the issuance of bonds.
C. The bonds shall be authorized and issued by the authority in accordance with the provisions of the New Mexico Finance Authority Act, Chapter 6, Article 21, NMSA 1978.
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