2011 New Mexico Statutes
Chapter 3: Municipalities
Article 52: Municipal Transit, 3-52-1 through 3-52-16
Section 3-52-8: Sale of bonds.
3-52-8. Sale of bonds.
A. Bonds may be sold at either public or private sale; provided that no such bonds may be sold at any price which does not result in an actual net interest cost to maturity, computed on the basis of standard tables of bond values, in excess of six percent.
B. If any municipal officer whose signature appears on any bond ceases to be an officer before delivery of the bonds, the signature is valid for all purposes as if the officer had remained in office until delivery.
C. All bonds are fully negotiable.
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