reglab/housing_qa huggingface dataset:
NM Stat § 6-15-13 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15 - Finances of Counties, Municipalities and School Districts|Section 6-15-13 - Execution of refunding bonds; interest coupons; mode of payment; installments.

The refunding bonds shall be in such form as the governing body may determine and, unless issued in book entry or similar form without the delivery of physical securities, shall refer to the act under which they are issued, be executed in the name of the county, municipality or school district, signed by the chairman or president of the governing body, sealed with the seal of the county, municipality or school district and attested by the county, municipal or school district clerk or secretary. The interest accruing on the refunding bonds shall be payable semiannually or annually. Both principal and interest of the bonds shall be payable in lawful money of the United States at such place or places as may be determined by the governing body of the county, municipality or school district. The principal of the bonds shall mature on the date or dates set by the governing body, with or without option of prior redemption, not later than twenty-five years from the date of the bonds. History: Laws 1927, ch. 128, § 3; C.S. 1929, § 90-1103; 1941 Comp., § 7-626; 1953 Comp., § 11-6-25; Laws 1963, ch. 234, § 3; 1975, ch. 326, § 4; 1983, ch. 265, § 30. ANNOTATIONSCompiler's notes. — The reference in the section heading to "interest coupons" is apparently irrelevant in light of the 1983 amendment, which deleted references to interest coupons. Cross references. — For facsimile signatures of public officials, see 6-9-1 NMSA 1978 et seq. Payment of school refunding bonds. — School refunding bonds payable in gold coin or its equivalent in lawful money did not invalidate bonds which were payable in gold coin equal to current standard of weight and fineness since such bonds were payable in lawful money of the United States. Southwest Sec. Co. v. Board of Educ., 1936-NMSC-008, 40 N.M. 59, 54 P.2d 412 (decided under former law). Provision for seal on school district bonds is directory only and is not essential to valid obligation. Estancia Bd. of Educ. v. Woodmen of World, 77 F.2d 31 (10th Cir. 1935). Legislative intent. — Considering the purpose of the Uniform Facsimile Signature of Public Officials Act (Sections 6-9-1 to 6-9-6 NMSA 1978), it is the legislative intention that the provisions of such act be applicable to the signatures affixed to advance county, municipality or school district refunding bonds provided for in this section. 1965 Op. Att'y Gen. No. 65-67. Am. Jur. 2d, A.L.R. and C.J.S. references. — 20 C.J.S. Counties §§ 222, 226; 64 C.J.S. Municipal Corporations § 1684; 79 C.J.S. Schools and School Districts § 371.
NM Stat § 6-15-14 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15 - Finances of Counties, Municipalities and School Districts|Section 6-15-14 - Levy of taxes to pay annual installments and interest.

The governing body of any county, municipality or school district which shall have issued refunding bonds under the provisions of Sections 6-15-11 to 6-15-22 NMSA 1978, shall, during each year in which any of said bonds shall be outstanding, cause an annual tax to be levied on all property in the county, municipality or school district subject to taxation, sufficient to produce one year's interest on all of said bonds then outstanding, and to pay the annual installment of the principal of said bonds that will become due and payable in the next ensuing year or the annual mandatory sinking fund requirement if the principal is to be paid from a sinking fund. Such taxes shall be levied, assessed and collected at the times and in the manner that other county, municipal or school district taxes are levied, assessed and collected, and the proceeds of such taxes shall be kept in a special fund or sinking fund to be used only for the payment of the interest on and for the redemption of such bonds. History: Laws 1927, ch. 128, § 5; C.S. 1929, § 90-1105; 1941 Comp., § 7-628; 1953 Comp., § 11-6-27; Laws 1975, ch. 326, § 5. ANNOTATIONSCross references. — For destruction of documentary evidence of extinguished public debt, see 6-10-62 NMSA 1978. Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations §§ 58 to 62, 344, 349, 376. 20 C.J.S. Counties § 226; 64 C.J.S. Municipal Corporations § 1706; 79 C.J.S. Schools and School Districts § 374.
NM Stat § 6-15-15 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15 - Finances of Counties, Municipalities and School Districts|Section 6-15-15 - Exchange for bonds to be refunded; sales.

All such refunding bonds may be exchanged dollar for dollar for the bonds to be refunded, or they may be sold as directed by the governing body, and the proceeds thereof shall be applied only to the purpose for which said refunding bonds were issued. History: Laws 1927, ch. 128, § 6; C.S. 1929, § 90-1106; 1941 Comp., § 7-629; 1953 Comp., § 11-6-28; Laws 1963, ch. 234, § 4. ANNOTATIONSAuthority of school district. — This act (Sections 6-15-11 to 6-15-19 NMSA 1978) authorizes a school district to issue refunding bonds for sale enforceable in the hands of the purchaser. Southwest Sec. Co. v. Board of Educ., 1936-NMSC-008, 40 N.M. 59, 54 P.2d 412. Bona fide purchaser's right to rely on certificate. — A bona fide purchaser of a bond purported to be a school refunding bond has a right to rely on the certificate that exchange of the bonds had been effectuated and refunded bonds destroyed, made by authorized officers, and the school board is estopped to assert falsity of certificate. Estancia Bd. of Educ. v. Woodmen of World, 77 F.2d 31 (10th Cir. 1935). Estoppel of school district raising invalidity of bond. — A school district is estopped from setting up the invalidity of bonds as against a bona fide purchaser on ground that the old bonds had not been canceled and record made of such acts where the bonds recited that all statutory requirements had been fulfilled and the board had certified to delivery and cancellation of old bonds. Southwest Sec. Co. v. Board of Educ., 1936-NMSC-008, 40 N.M. 59, 54 P.2d 412. Am. Jur. 2d, A.L.R. and C.J.S. references. — Power of governmental unit to issue bonds as implying power to refund them, 1 A.L.R.2d 134. 20 C.J.S. Counties § 225; 64 C.J.S. Municipal Corporations § 1679; 79 C.J.S. Schools and School Districts § 370.
NM Stat § 6-15-16 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15 - Finances of Counties, Municipalities and School Districts|Section 6-15-16 - [Record of refunding bonds.]

The governing body of any county, municipality or school district issuing bonds under this act [6-15-11 to 6-15-19 NMSA 1978 NMSA 1978] shall keep a record thereof in a book to be kept for that purpose, showing the date, number, amount and maturity of such bonds and all payments of interest or principal of any such bonds. History: Laws 1927, ch. 128, § 7; C.S. 1929, § 90-1107; 1941 Comp., § 7-630; 1953 Comp., § 11-6-29. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
NM Stat § 6-15-17 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15 - Finances of Counties, Municipalities and School Districts|Section 6-15-17 - [Retired refunding bonds to be destroyed.]

All such refunding bonds paid and retired shall be burned and destroyed by the governing body which retires the same, and a record of such destruction and the number and amount of bonds destroyed shall be entered on the records of such governing body. History: Laws 1927, ch. 128, § 8; C.S. 1929, § 90-1108; 1941 Comp., § 7-631; 1953 Comp., § 11-6-30. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
NM Stat § 6-15-18 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15 - Finances of Counties, Municipalities and School Districts|Section 6-15-18 - [Bonds surrendered for refunding; record; destruction.]

Upon the surrender of any bonds refunded under the provisions of this act [6-15-11 to 6-15-19 NMSA 1978], there shall be entered on the records of the governing body to whom surrendered the fact of such surrender and the number, amount, date and character of the bonds so surrendered; and such bonds shall be destroyed by such governing body and the fact of such destruction shall be likewise entered on such record. History: Laws 1927, ch. 128, § 9; C.S. 1929, § 90-1109; 1941 Comp., § 7-632; 1953 Comp., § 11-6-31. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
NM Stat § 6-15-19 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15 - Finances of Counties, Municipalities and School Districts|Section 6-15-19 - [Definition of terms.]

The term "municipality" shall mean any incorporated city, town, or village in this state, whether the same shall have been incorporated by special character [charter] or under the general laws of this state. The term "school district" shall mean and include all municipal independent union high school or rural districts, whether the same shall be under the jurisdiction of a county board of education or municipal boards of education, and shall include districts organized for high school purposes. The term "governing body" shall mean the board of county commissioners, city council, board of trustees, board of commissioners or similar legislative bodies of municipalities, and shall mean the board of education or similar board having control of school affairs. History: Laws 1927, ch. 128, § 10; C.S. 1929, § 90-1110; 1941 Comp., § 7-633; 1953 Comp., § 11-6-32. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
NM Stat § 6-15-21 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15 - Finances of Counties, Municipalities and School Districts|Section 6-15-21 - Contributions securing payment of bonds.

In order to provide for the payment of maturing principal and interest, or call premium if any, on any of its general obligation or general obligation refunding bonds a county, municipality or school district may contribute any available money to aid in the purchase of securities to be placed in a trust or escrow created pursuant to Section 6-15-20 NMSA 1978, or may create any such trust or enter into any such escrow agreement if such trust or escrow agreement is to be wholly funded with cash or securities transferred from any fund of such county, municipality or school district, or purchased with the proceeds of any available money from any fund of such county, municipality or school district. History: 1953 Comp., § 11-6-34.2, enacted by Laws 1975, ch. 326, § 7.
NM Stat § 6-15-23 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15 - Finances of Counties, Municipalities and School Districts|Section 6-15-23 - Repealed.

History: 1953 Comp., § 11-6-35, enacted by Laws 1970, ch. 6, § 1; 1978 Comp., § 6-15-23, repealed by Laws 2019, ch. 212, § 284. ANNOTATIONSRepeals. — Laws 2019, ch. 212, § 284 repealed 6-15-23 NMSA 1978, as enacted by Laws 1970, ch. 6, § 1, relating to the short title of the Bond Election Act, effective April 3, 2019. For provisions of former section, see the 2018 NMSA 1978 on NMOneSource.com.
NM Stat § 6-15-24 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15 - Finances of Counties, Municipalities and School Districts|Section 6-15-24 - Repealed.

History: 1953 Comp., § 11-6-36, enacted by Laws 1970, ch. 6, § 2; 1971, ch. 132, § 1; 1978 Comp., § 6-15-24, repealed by Laws 2019, ch. 212, § 284. ANNOTATIONSRepeals. — Laws 2019, ch. 212, § 284 repealed 6-15-24 NMSA 1978, as enacted by Laws 1970, ch. 6, § 2, relating to definitions of the Bond Election Act, effective April 3, 2019. For provisions of former section, see the 2018 NMSA 1978 on NMOneSource.com.
NM Stat § 6-15-25 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15 - Finances of Counties, Municipalities and School Districts|Section 6-15-25 - Repealed.

History: 1953 Comp., § 11-6-37, enacted by Laws 1970, ch. 6, § 3; 1971, ch. 132, § 2; 1978 Comp., § 6-15-25, repealed by Laws 2019, ch. 212, § 284. ANNOTATIONSRepeals. — Laws 2019, ch. 212, § 284 repealed 6-15-25 NMSA 1978, as enacted by Laws 1970, ch. 6, § 3, relating to findings of the Bond Election Act, purpose of act, effective April 3, 2019. For provisions of former section, see the 2018 NMSA 1978 on NMOneSource.com.
NM Stat § 6-15-26 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15 - Finances of Counties, Municipalities and School Districts|Section 6-15-26 - Repealed.

History: 1953 Comp., § 11-6-38, enacted by Laws 1971, ch. 132, § 3; 1975, ch. 36, § 1; 1985, ch. 208, § 120; 2018, ch. 79, § 75; 1978 Comp., § 6-15-26, repealed by Laws 2019, ch. 212, § 284. ANNOTATIONSRepeals. — Laws 2019, ch. 212, § 284 repealed 6-15-26 NMSA 1978, as enacted by Laws 1971, ch. 132, § 3, relating to bond elections, effective April 3, 2019. For provisions of former section, see the 2018 NMSA 1978 on NMOneSource.com.
NM Stat § 6-15-27 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15 - Finances of Counties, Municipalities and School Districts|Section 6-15-27 - Repealed.

History: 1953 Comp., § 11-6-39, enacted by Laws 1970, ch. 6, § 5; 1978 Comp., § 6-15-27, repealed by Laws 2019, ch. 212, § 284. ANNOTATIONSRepeals. — Laws 2019, ch. 212, § 284 repealed 6-15-27 NMSA 1978, as enacted by Laws 1970, ch. 6, § 5, relating to scope of the Bond Election Act, effective April 3, 2019. For provisions of former section, see the 2018 NMSA 1978 on NMOneSource.com.
NM Stat § 6-15-28 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15 - Finances of Counties, Municipalities and School Districts|Section 6-15-28 - Repealed.

History: 1953 Comp., § 11-6-40, enacted by Laws 1970, ch. 6, § 6; 1971, ch. 132, § 4; 1978 Comp., § 6-15-28, repealed by Laws 2019, ch. 212, § 284. ANNOTATIONSRepeals. — Laws 2019, ch. 212, § 284 repealed 6-15-28 NMSA 1978, as enacted by Laws 1970, ch. 6, § 6, relating to validation of the Bond Election Act, effective April 3, 2019. For provisions of former section, see the 2018 NMSA 1978 on NMOneSource.com.
NM Stat § 6-15A-1 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15A - Education Technology Equipment|Section 6-15A-1 - Short title.

Chapter 6, Article 15A NMSA 1978 may be cited as the "Education Technology Equipment Act". History: Laws 1997, ch. 193, § 1; 2015, ch. 68, § 1. ANNOTATIONSCross references. — For restrictions on school district indebtedness, see N.M. Const., art. IX, § 11. The 2015 amendment, effective July 1, 2015, changed the statutory reference of the Education Technology Equipment Act from "Sections 1 through 16 of this act" to "Chapter 6, Article 15A NMSA 1978".
NM Stat § 6-15A-2 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15A - Education Technology Equipment|Section 6-15A-2 - Purpose.

The purpose of the Education Technology Equipment Act is to implement the provision of Article IX, Section 11 of the constitution of New Mexico, as approved by the voters of the state of New Mexico at the general election held in November, 1996, which declares that a school district may create a debt under the constitution of New Mexico by entering into a lease-purchase arrangement to acquire education technology equipment without submitting the proposition to a vote of the qualified electors of the school district. History: Laws 1997, ch. 193, § 2.
NM Stat § 6-15A-4 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15A - Education Technology Equipment|Section 6-15A-4 - Notice of proposed lease-purchase arrangements.

When a school district contemplates entering into a lease-purchase arrangement payable in whole or in part from ad valorem taxes, the local school board, before initiating any proceedings for approval of such lease-purchase arrangement, shall forward to the school budget planning unit of the state department of public education, a written notice of the proposed lease-purchase arrangement. History: Laws 1997, ch. 193, § 4.
NM Stat § 6-15A-5 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15A - Education Technology Equipment|Section 6-15A-5 - School budget planning unit of the state department of public education to furnish information, transcripts of proceedings and disposition.

The school budget planning unit of the state department of public education, upon the receipt of the notice mentioned in Section 4 [6-15A-4 NMSA 1978] of the Education Technology Equipment Act shall furnish all necessary information with reference to the valuation, present outstanding bonded indebtedness, present outstanding lease-purchase arrangements and limitations as to tax rates and debt contracting power and other information useful to the local school board in the consideration of a proposed lease-purchase arrangement. Upon entering into a lease-purchase arrangement, the local school board shall prepare two true and complete transcripts of proceedings relating to the lease-purchase arrangement, one to be immediately filed with the school budget planning unit of the [state] department of public education and one to be kept by the local school board. History: Laws 1997, ch. 193, § 5. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
NM Stat § 6-15A-6 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15A - Education Technology Equipment|Section 6-15A-6 - Tax levy for payment of lease-purchase agreement.

The officials charged by law with the duty of levying ad valorem taxes for the payment of bonds and interest shall, in the manner provided by law, make an annual levy sufficient to meet the payments due on lease-purchase arrangements. Annual payments due on lease-purchase arrangements may be combined with other school district general obligation debt when determining the annual debt service tax levy pursuant to Sections 7-37-8 and 22-18-12 NMSA 1978. Nothing in the Education Technology Equipment Act shall be so construed as to prevent a school district from applying any other legally available funds, including funds that may be in its general fund or investment income actually received from investments, to the payments due on or any prepayment premium payable in connection with such lease-purchase arrangements as the same become due, and upon such payments, the levy or levies provided for in this section may, to that extent, be reduced. History: Laws 1997, ch. 193, § 6; 2001, ch. 349, § 1. ANNOTATIONSThe 2001 amendment, effective June 15, 2001, added the current second sentence; substituted "in the Education Technology Equipment Act" for "herein contained"; inserted "legally available funds, including" following "applying any other"; deleted "and available for that purpose" preceding "to the payments"; and made stylistic changes.
NM Stat § 6-15A-7 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15A - Education Technology Equipment|Section 6-15A-7 - Lease-purchase arrangements; terms.

Lease-purchase arrangements may: A. have interest, appreciated principal value, or any part thereof, payable at intervals or at maturity as may be determined by the local school board; B. be subject to prior redemption or prepayment at the option of the local school board as [at] such time or times and upon such terms and conditions with or without the payment of such premium or premiums as may be determined by the local school board; C. have a final payment date or mature at any time or times not exceeding five years after the date of issuance; D. be payable at one time or in installments or may be in such other form as may be determined by the local school board; E. be priced at, above or below par and at a price that results in a net effective interest rate that does not exceed the maximum permitted by the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978]; and F. be sold or issued at public sale, negotiated sale or private sale to the New Mexico finance authority. History: Laws 1997, ch. 193, § 7. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Definition invalid. — Definition of "lease-purchase arrangement" is invalid to the extent it includes debt incurred for the acquisition of education technology equipment that is not a lease-purchase arrangement contemplated under N.M. Const., art. IX, § 11(C). 2008 Op. Att'y Gen. No. 08-01.
NM Stat § 6-15A-8 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15A - Education Technology Equipment|Section 6-15A-8 - Authorizing lease-purchase of education technology equipment; preliminary resolution; contents; notice; final resolution of approval.

A. If a local school board proposes to lease-purchase education technology equipment, it shall comply with the requirements of this section. B. At a regular meeting or at a special meeting called for the purpose of considering the lease-purchase of education technology equipment, a local school board shall: (1) make a determination of the necessity for lease-purchasing the education technology equipment; (2) determine the estimated cost of the equipment needed; (3) review a summary of the terms of the proposed lease-purchase agreement; (4) identify the source of funds for the lease-purchase payments; (5) if all or part of the funds needed requires or anticipates the imposition of a property tax, determine the estimated rate of the tax and what, if any, the percentage increase in property taxes for real property owners in the school district; (6) set a date not more than four weeks and not less than three weeks in the future for a special meeting to consider a resolution granting final approval to the lease-purchase of education technology equipment; and (7) direct that notice of the special meeting be published once each week for the two weeks immediately preceding the meeting in a newspaper having general circulation in the school district and that the notice include the information required in Paragraphs (1) through (5) of this subsection. C. At the special meeting scheduled pursuant to Subsection B of this section, the local school board may adopt a final resolution approving the lease-purchase of education technology equipment only by an affirmative vote of majority of all members of the board. D. The local school board shall not adopt a resolution for or approve a lease-purchase agreement that exceeds five years. History: 1978 Comp., § 6-15A-8, enacted by Laws 2001, ch. 203, § 1. ANNOTATIONSRepeals and reenactments. — Laws 2001, ch. 203, § 1 repealed 6-15A-8 NMSA 1978, as enacted by Laws 1997, ch. 193, § 8, and enacted a new section, effective April 3, 2001.
NM Stat § 6-15A-9 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 15A - Education Technology Equipment|Section 6-15A-9 - Publication of notice; validation; limitation of action.

A. After adoption of a resolution approving a lease-purchase arrangement, the local school board shall publish notice of the adoption of the resolution once in a newspaper of general circulation in the school district. B. After the passage of thirty days from the publication required by Subsection A of this section, any action attacking the validity of the proceedings taken by the local school board preliminary to and in the authorization of and entering into the lease-purchase arrangement described in the notice is perpetually barred. History: Laws 1997, ch. 193, § 9.