Bonds issued pursuant to Sections 21-5-12 through 21-5-23 NMSA 1978 shall be in such form and denominations as the board of trustees of the New Mexico school for the visually handicapped [New Mexico school for the blind and visually impaired] shall determine, due and payable not later than twenty years from date of issue. The bonds shall be payable in consecutive order commencing not later than two years from date of issue.
History: 1978 Comp., § 21-5-14, enacted by Laws 1983, ch. 265, § 38.
ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
An amendment to N.M. Const., art. XII, § 11, adopted at a general election held November 2, 2004, changed the name of the New Mexico school for the visually handicapped to the New Mexico school for the blind and visually impaired.
Repeals and reenactments. — Laws 1983, ch. 265, § 38, repealed former 21-5-14 NMSA 1978, effective April 7, 1983, and enacted a new section.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations §§ 195, 196, 202, 205, 399 to 453.
Terms of bond: power and discretion of officer or board authorized to issue bonds of governmental units as regards, terms or conditions to be included therein, 119 A.L.R. 190.
47 C.J.S. Interest and Usury; Consumer Credit § 18.