Temporary provision; no impairment of obligation of contract.

  1. Law
  2. New Mexico Statutes
  3. Taxation
  4. Severance Tax Bonding Act
  5. Temporary provision; no impairment of obligation of contract.

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Nothing in this act shall be construed as impairing or authorizing the impairment of the contract between the state and the holders of severance tax bonds authorized or issued, or both, prior to the effective date of this act.

History: Laws 1981 (1st S.S.), ch. 9, § 22.

ANNOTATIONS

Compiler's notes. — The term "this act", referred to in this section, means Laws 1981 (1st S.S.), ch. 9, which is presently compiled as 7-27-31, 7-27-32, 7-27-42 to 7-27-44, 7-27-46, 7-27-47 NMSA 1978.

Laws 2007, ch. 64, § 5, effective March 29, 2007, authorized the issuance of severance tax bonds for state laboratory facilities.


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