There Is a Newer Version
of
the New Mexico Statutes
2011 New Mexico Statutes
Chapter 6: Public Finances
Article 13: Institution Bonds, 6-13-1 through 6-13-26
Section 6-13-11: Bond payment.
Universal Citation:
NM Stat § 6-13-11 (1996 through 1st Sess 50th Legis)
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6-13-11. Bond payment.
It is the duty of the secretary and treasurer of the governing board, where bonds have been issued pursuant to the Institution Bond Act, to forward to the bank at which the bonds are payable, prior to the date on which any installment of interest or any principal amount of any bonds matures, out of the interest and retirement fund, a sufficient sum of money to meet the installment of interest and maturing principal as they become due, plus any service charge which the bank is entitled to receive for its services.
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