reglab/housing_qa huggingface dataset:
NM Stat § 6-12-13 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12 - State Indebtedness|Section 6-12-13 - [Tax levy for payment; continuance of levies for bonds to be refunded; application of receipts.]

To provide for the payment of the interest and principal of any bonds issued pursuant to the provisions of this act [6-12-6 to 6-12-14 NMSA 1978], the state tax commission [property tax division of the taxation and revenue department] is hereby authorized and directed during each year any of said bonds shall be outstanding to levy on all property in the state of New Mexico which is subject to taxation for state purposes, an annual ad valorem tax sufficient to produce an amount equal to the interest and principal requirements of that year, to be levied, assessed and collected at the same times and in the same manner that other taxes for state purposes are levied, assessed and collected, and provided that the provisions contained in any statute authorizing the issuance of bonds which are refunded by the issuance of bonds under this act and which direct the levy of taxes on any particular property or in any particular manner for the payment of the bonds so refunded, shall not be repealed by the provisions of this act, and any refunding bonds issued to refund such bonds shall be payable from taxes to be levied, assessed and collected in the manner above set forth, in addition to which any other taxes now pledged for the payment of outstanding bonds to be refunded hereunder, shall continue to be pledged for the payment of the refunding bonds authorized to be issued by this act, in the manner provided in the statutes authorizing the issuance of the bonds refunded, and provided further, that the refunding bonds issued under the provisions of this act shall in any event be obligations for the payment of which the full faith and credit of the state of New Mexico are pledged. History: Laws 1935, ch. 4, § 8; 1941 Comp., § 7-513; 1953 Comp., § 11-5-13. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Laws 1970, ch. 31, § 3 (repealed by Laws 1974, ch. 92, § 34) transferred the authority, powers and duties of the state tax commission to the property appraisal department, and Laws 1973, ch. 258, § 3, transferred the functions of the property appraisal department to the property tax department. However, Laws 1977, ch. 249, § 5, abolished the property tax department, and Laws 1977, ch. 249, § 4, established the property tax division of the taxation and revenue department. See 7-2-2 and 9-11-4 NMSA 1978.
NM Stat § 6-12-14 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12 - State Indebtedness|Section 6-12-14 - [Bonds surrendered for refunding; entries; destruction.]

Upon the surrender of any bonds refunded under the provisions of this act [6-12-6 to 6-12-14 NMSA 1978], there shall be entered on the records of the state auditor the fact of such surrender and the number, amount, date and character of the bonds so surrendered; and such bonds shall be destroyed by the state board of finance and the fact of such destruction shall be likewise entered on such record. History: Laws 1935, ch. 4, § 9; 1941 Comp., § 7-514; 1953 Comp., § 11-5-14. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Refunded or redeemed bonds in agency's possession should be surrendered to the state auditor as hereinbefore specified, and the bonds destroyed by the state finance board (state board of finance) as herein provided, the fact of such destruction being entered in the records of the board of finance. 1953 Op. Att'y Gen. No. 53-5780.
NM Stat § 6-12-15 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12 - State Indebtedness|Section 6-12-15 - State bond guarantee fund; creation; purposes.

A. There is created within the state treasury the "state bond guarantee fund". The fund is established as an additional source for payments of principal and interest due on state general obligation indebtedness already incurred or incurred in the future or for payments of any other obligations arising in connection with that indebtedness. The fund shall be drawn upon only in the event ad valorem taxes or other revenues of the state available for the described payments are either insufficient or are not received by the state at the time due or anticipated. B. If it is determined by the department of finance and administration or the state treasurer that there are insufficient ad valorem taxes or other state revenues to meet a payment of principal or interest due on state general obligation indebtedness or to meet any other obligation arising in connection with that indebtedness lawfully payable from ad valorem taxes, or that the receipt of ad valorem taxes or other revenues to be used to make any such payment will be delayed and not be available to make the payment when due, the department of finance and administration or the state treasurer may request the state board of finance to direct a temporary transfer of a sufficient amount of money from the general fund operating reserve, or any other available fund in the state treasury in which there may be a surplus over current requirements, to the state bond guarantee fund so that the payment becoming due may be made and a default avoided. If such a transfer is directed by the state board of finance, the state treasurer shall use the amount transferred to the state bond guarantee fund to make the payment. The amount transferred to the state bond guarantee fund shall be repaid to the fund from which transferred from ad valorem taxes or other revenues of the state that are available for the repayment and which are not otherwise required for subsequent payments of state general obligation indebtedness. C. Nothing in this section prevents the application of any other funds of the state available for that purpose to the payment of general obligation indebtedness of the state or other obligations arising in connection with that indebtedness. History: Laws 1989, ch. 124, § 1.
NM Stat § 6-12A-1 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12A - Short-Term Cash Management|Section 6-12A-1 - Short title.

This act [6-12A-1 to 6-12A-15 NMSA 1978] may be cited as the "Short-Term Cash Management Act". History: Laws 1997, ch. 111, § 1. ANNOTATIONSCross references. — For creation of general fund, see 6-4-2 NMSA 1978. For state indebtedness generally, see Chapter 6, Article 12 NMSA 1978. For institutional bonds, see Chapter 6, Article 13 NMSA 1978.
NM Stat § 6-12A-2 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12A - Short-Term Cash Management|Section 6-12A-2 - Purpose.

The purpose of the Short-Term Cash Management Act is to ensure an orderly and uninterrupted flow of money to the general fund by anticipating the receipt of taxes and other state revenues into the general fund and authorizing the state treasurer to issue short-term notes payable from those anticipated receipts. History: Laws 1997, ch. 111, § 2.
NM Stat § 6-12A-3 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12A - Short-Term Cash Management|Section 6-12A-3 - Definitions.

As used in the Short-Term Cash Management Act: A. "anticipated revenue" means tax receipts and other state revenues that are to be credited by law to the general fund; B. "anticipation notes" means state of New Mexico tax and revenue anticipation notes; and C. "general fund" means the fund created in Section 6-4-2 NMSA 1978 to which the state treasurer credits all revenue not otherwise allocated by law. History: Laws 1997, ch. 111, § 3.
NM Stat § 6-12A-4 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12A - Short-Term Cash Management|Section 6-12A-4 - State treasurer certification.

Whenever the state treasurer deems it necessary to issue anticipation notes pursuant to the Short-Term Cash Management Act, the state treasurer shall certify that: A. the issuance of anticipation notes is necessary to regulate cash flow in the general fund; B. the issuance of anticipation notes will not have an adverse impact on the general fund; C. the issuance of anticipation notes is in the best interest of the state; D. the amount of anticipation notes proposed for issuance is reasonable under existing and anticipated market conditions and complies with the requirements of the Internal Revenue Code of 1986, as amended, to the extent applicable; and E. the payment of all interest and principal on anticipation notes can be made on a timely basis. History: Laws 1997, ch. 111, § 4. ANNOTATIONSCross references. — For the federal Internal Revenue Code, see 26 U.S.C.S. § 1 et seq.
NM Stat § 6-12A-5 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12A - Short-Term Cash Management|Section 6-12A-5 - Anticipation notes; authorization; state board of finance approval.

A. In order to anticipate the collection and receipt of anticipated revenue and after certifying the need to issue anticipation notes as provided in the Short-Term Cash Management Act, the state treasurer may issue and sell one or more anticipation notes. The anticipation notes shall mature not later than the end of the fiscal year in which the anticipation notes are issued and shall bear interest at rates permitted in the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978]. B. The state treasurer shall pledge the anticipated revenue to secure the payment of the principal of and interest on the anticipation notes. C. Anticipation notes may be sold at a public or negotiated sale at, above or below par. Any negotiated sale shall be made with one or more investment bankers whose services are obtained through a competitive proposal process. For any sale, the state treasurer shall also procure through a competitive proposal process the services of any financial adviser and bond counsel, unless the state treasurer contracts with the state board of finance to employ the services of the board's financial adviser or bond counsel under contracts the board may have, from time to time, with those professionals. D. Anticipation notes may be issued in an aggregate principal amount not to exceed fifty percent of the anticipated revenue that the state treasurer anticipates will be collected by the state and credited to the general fund in the fiscal year in which the notes are issued and will be available to pay the principal of and interest on the anticipation notes. E. Anticipation notes shall be issued by the state treasurer pursuant to the Short-Term Cash Management Act only upon approval by the state board of finance at a public meeting held prior to the delivery of the anticipation notes. History: Laws 1997, ch. 111, § 5.
NM Stat § 6-12A-6 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12A - Short-Term Cash Management|Section 6-12A-6 - Source of repayment.

Principal of and interest on anticipation notes shall be payable solely from that portion of anticipated revenue pledged for that purpose and collected by the state for credit to the general fund in the fiscal year in which the anticipation notes are issued. History: Laws 1997, ch. 111, § 6.
NM Stat § 6-12A-7 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12A - Short-Term Cash Management|Section 6-12A-7 - Anticipation notes debt service fund created.

The "anticipation notes debt service fund" is created in the state treasury. Upon collection of anticipated revenue that has been pledged for the payment of principal of and interest on the outstanding anticipation notes, the state treasurer shall deposit into the fund that portion of the pledged revenue necessary for payment of the principal of and interest on anticipation notes. Anticipated revenue in the fund is appropriated to the state treasurer for the payment of anticipation notes with interest at maturity. Money in the fund shall be held for the benefit of the registered owner or owners of the anticipation notes and for no other purpose. History: Laws 1997, ch. 111, § 7.
NM Stat § 6-12A-8 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12A - Short-Term Cash Management|Section 6-12A-8 - Proceeds from anticipation notes; anticipation notes fund created; investment.

The "anticipation notes fund" is created in the state treasury. All proceeds from the sale of anticipation notes shall be deposited in the fund. The state treasurer shall invest the proceeds of anticipation notes as provided in Section 6-10-10 NMSA 1978. History: Laws 1997, ch. 111, § 8.
NM Stat § 6-12A-9 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12A - Short-Term Cash Management|Section 6-12A-9 - Anticipation notes; legal investment; tax exemption.

Anticipation notes issued by the state treasurer pursuant to the Short-Term Cash Management Act are legal and authorized investments for banks, savings banks, trust companies, savings and loan associations, insurance companies, fiduciaries, trustees and guardians and for the sinking funds of political subdivisions, departments, institutions and agencies of the state. Anticipation notes are sufficient security for all deposits of state funds and of all funds of any board in control of public money at the par value of the anticipation notes. History: Laws 1997, ch. 111, § 9.
NM Stat § 6-12A-10 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12A - Short-Term Cash Management|Section 6-12A-10 - Expenses.

The expenses incurred by the state treasurer related to the issuance and sale of anticipation notes shall be paid out of the proceeds from the sale of the anticipation notes, and all rebate, penalty, interest and other obligations of the state related to the anticipation notes and anticipation notes proceeds under the Internal Revenue Code of 1986, as amended, shall be paid from the earnings on anticipation notes proceeds or any money of the state legally available for such payment. History: Laws 1997, ch. 111, § 10. ANNOTATIONSCross references. — For the federal Internal Revenue Code, see 26 U.S.C.S. § 1 et seq.
NM Stat § 6-12A-11 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12A - Short-Term Cash Management|Section 6-12A-11 - State treasurer; duty to make payments and keep records.

The state treasurer shall pay the principal of and interest on outstanding anticipation notes and shall keep a complete register showing the interest paid and principal outstanding on all anticipation notes and such other records as he deems appropriate. History: Laws 1997, ch. 111, § 11.
NM Stat § 6-12A-12 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12A - Short-Term Cash Management|Section 6-12A-12 - Authority for issuance.

The Short-Term Cash Management Act, without reference to any other statute, shall be full authority for the issuance and sale of anticipation notes and shall have all the qualities of investment securities under the Uniform Commercial Code [Chapter 55 NMSA 1978]. History: Laws 1997, ch. 111, § 12.
NM Stat § 6-12A-13 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12A - Short-Term Cash Management|Section 6-12A-13 - Action to compel performance of officers.

Any holder of anticipation notes or any person who is a party in interest may bring an action to enforce and compel the performance of the provisions of the Short-Term Cash Management Act. History: Laws 1997, ch. 111, § 13.
NM Stat § 6-12A-14 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12A - Short-Term Cash Management|Section 6-12A-14 - Anticipation notes exempt from taxation.

Anticipation notes are exempt from taxation by the state or any of its political subdivisions. History: Laws 1997, ch. 111, § 14.
NM Stat § 6-12A-15 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12A - Short-Term Cash Management|Section 6-12A-15 - Anticipation notes not a general obligation of the state.

Anticipation notes are not a general obligation of the state, but are payable solely out of anticipated revenues that have been pledged for their payment. History: Laws 1997, ch. 111, § 15.
NM Stat § 6-13-1 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 13 - Institution Bonds|Section 6-13-1 - Short title.

Sections 6-13-1 through 6-13-26 NMSA 1978 may be cited as the "Institution Bond Act." History: 1953 Comp., § 11-9-1, enacted by Laws 1963, ch. 298, § 1. ANNOTATIONSEffect of presenting coupons maturing subsequent to redemption date. — Under the express provisions of the bonds to be redeemed and the bond resolution, it is necessary that the institution pay the principal and accrued interest to date of the redemption of such bonds, only when the appurtenant coupons maturing subsequent to the redemption date are presented. 1965 Op. Att'y Gen. No. 65-61. Am. Jur. 2d, A.L.R. and C.J.S. references. — Validity, under state constitution and laws, of issuance by state or state agency of revenue bonds to finance or refinance construction projects at private religious-affiliated colleges or universities, 95 A.L.R.3d 1000.
NM Stat § 6-13-3 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 13 - Institution Bonds|Section 6-13-3 - General borrowing authority.

For the purpose of erecting, purchasing or otherwise acquiring, altering, improving, furnishing and equipping any necessary buildings or structures at any state institution, or acquiring any necessary land for use of the institution, or for retiring the whole or any part of any series of bonds previously issued by any state institution under the provisions of law, or for any of these purposes, the governing board of the state institution may borrow money in conformity with the terms of the Institution Bond Act. History: 1941 Comp., § 6-255, enacted by Laws 1949, ch. 121, § 2; 1953 Comp., § 11-9-3, compiled and amended by Laws 1963, ch. 298, §§ 2, 3. ANNOTATIONSCross references. — For the Short-Term Cash Management Act, see Chapter 6, Article 12A NMSA 1978. Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations §§ 101, 120. 81A C.J.S. States § 213.
NM Stat § 6-13-4 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 13 - Institution Bonds|Section 6-13-4 - General bonding authority.

Whenever the governing board of any state institution, by affirmative vote of a majority of its members duly entered in the minutes of the board, determines by resolution that it is necessary to erect, purchase or otherwise acquire, alter, improve, furnish or equip any buildings or structures at the institution, or acquire land for its use, or to retire the whole or any part of any series of bonds previously issued in conformity with law, or for any of these purposes, the board may issue and sell bonds of the state institution as provided by the Institution Bond Act. History: 1941 Comp., § 6-256, enacted by Laws 1949, ch. 121, § 3; 1953 Comp., § 11-9-4, compiled and amended by Laws 1963, ch. 298, §§ 2, 4. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations § 36. 81A C.J.S. States § 252.
NM Stat § 6-13-5 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 13 - Institution Bonds|Section 6-13-5 - Bonds; form; terms.

Bonds issued under the Institution Bond Act shall be payable not later than fifty years from the date of issue and in consecutive order commencing not later than two years from the date of issue. They shall be in denominations determined by the governing board of the state institution. The form of the bonds shall be determined by the governing board of the state institution and signatures may be affixed in compliance with the Uniform Facsimile Signature of Public Officials Act [6-9-1 to 6-9-6 NMSA 1978]. History: 1953 Comp., § 11-9-5, enacted by Laws 1963, ch. 298, § 5; 1983, ch. 265, § 26. ANNOTATIONSRepeals and reenactments. — Laws 1963, ch. 298, § 5, repealed former 11-9-5, 1953 Comp., relating to denominations of negotiable coupon bonds and their forms, and enacted a new 6-13-5 NMSA 1978.
NM Stat § 6-13-6 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 13 - Institution Bonds|Section 6-13-6 - [Sale of bonds.]

That said bonds may be sold at public or private sale, in the discretion of the governing board, provided, however, that no sale shall be made for less than the par value of the bonds, plus accrued interest from the last preceding interest date to the date of delivery of said bonds. Before delivery of the bonds to the purchaser all matured interest coupons shall be detached and cancelled. The state treasurer may, with the approval of the state board of finance and other officials whose approval may be required by law for the investment of public funds, purchase such bonds at par and accrued interest to date of delivery of such investment. Such bonds may be accepted at their par value by all public officials in this state as security for the repayment of all deposits of public moneys of this state, or of any county, municipality or public institution thereof, and as security for the faithful performance of any obligations or duty to guarantee the performance of which such officials are now authorized by law to accept a deposit of the bonds of this state or of the United States of America. History: 1941 Comp., § 6-258, enacted by Laws 1949, ch. 121, § 5; 1953 Comp., § 11-9-6, compiled by Laws 1963, ch. 298, § 2. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
NM Stat § 6-13-7 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 13 - Institution Bonds|Section 6-13-7 - [Proceeds from sale of bonds; building and improvement fund; expenditures.]

That the proceeds from the sale of said bonds shall be paid to the secretary and treasurer of the board issuing same, and shall by such secretary and treasurer be placed in a separate fund to be known as "building and improvement fund" to be used and paid out only for the specific purposes in this act enumerated upon order of the board, or checks signed by the president or vice-president of the board and by the secretary and treasurer thereof, except such portion thereof as may have been received on account of accrued interest of said bonds to date of delivery, which amount shall be placed in the "interest and retirement fund" for the liquidation of said bonds as hereinafter provided. The cost of preparing, advertising and selling said bonds, including any necessary expense for legal opinions thereon, shall be paid out of the proceeds of the sale of said bonds. History: 1941 Comp., § 6-259, enacted by Laws 1949, ch. 121, § 6; 1953 Comp., § 11-9-7, compiled by Laws 1963, ch. 298, § 2. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
NM Stat § 6-13-8 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 13 - Institution Bonds|Section 6-13-8 - [Interest and retirement fund; establishment; purpose.]

That the governing board issuing said bonds shall, at the time of issuing said bonds, establish for the payment of the principal and interest thereof a fund to be known as "interest and retirement fund" into which fund said board shall immediately place a sum not less than the amount necessary to pay the interest and maturing principal of said bonds for the ensuing twelve months, and annually thereafter shall continue to place in said fund a sufficient amount to pay principal and interest maturing in the succeeding twelve months. History: 1941 Comp., § 6-260, enacted by Laws 1949, ch. 121, § 7; 1953 Comp., § 11-9-8, compiled by Laws 1963, ch. 298, § 2. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.