2009 New Mexico Statutes
Chapter 72 - Water Law.
Article 20 - Eastern Sandoval County Arroyo Flood Control Act
Section 72-20-45 - Issuance of temporary bonds.
72-20-45. Issuance of temporary bonds.
The authority is authorized to issue temporary bonds, pending preparation of definitive bond or bonds and exchangeable for the definitive bond or bonds when prepared, as the board may determine. Each temporary bond shall set forth substantially the same conditions, terms and provisions as the definitive bond for which it is exchanged. Each holder of any such temporary security shall have all the rights and remedies that the holder would have as a holder of the definitive bond or bonds.
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