New Mexico renewable energy transmission authority act is full authority for issuance of bonds; bonds are legal investments.

  1. Law
  2. New Mexico Statutes
  3. Electric, Gas and Water Utilities
  4. New Mexico Renewable Energy Transmission Authority Act
  5. New Mexico renewable energy transmission authority act is full authority for issuance of bonds; bonds are legal investments.

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A. The New Mexico Renewable Energy Transmission Authority Act is, without reference to any other act of the legislature, full authority for the issuance and sale of renewable energy transmission bonds, which bonds 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.

B. The bonds are legal investments for any person or board charged with the investment of any public funds and are acceptable as security for any deposit of public money.

History: Laws 2007, ch. 3, § 10.

ANNOTATIONS

Effective date. — Laws 2007, ch. 3, § 19 made Laws 2007, ch. 3, § 10 effective July 1, 2007.


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