Severance Tax Bonding Act | Midpage

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New Mexico Statutes Annotated 1978

27

Severance Tax Bonding Act

State of New Mexico

7-27-1Short title 7-27-2Severance tax bonding fund created 7-27-3Severance tax permanent fund created 7-27-3.1Transfer of investment powers 7-27-3.2Definition 7-27-3.3Severance tax permanent fund; annual distributions 7-27-5Investment of severance tax permanent fund 7-27-5.3Conventional mortgage pass-through securities 7-27-5.4New Mexico business investments 7-27-5.5Educational loan notes 7-27-5.13Educational institution research and development facilities revenue bonds 7-27-5.14Findings and purpose 7-27-5.15New Mexico private equity funds and New Mexico business investments 7-27-5.17Employers mutual company revenue bonds 7-27-5.18Purpose 7-27-5.19Deposits in New Mexico financial institutions; limitations 7-27-5.20Deposits in New Mexico credit unions 7-27-5.21New Mexico lottery revenue bonds 7-27-5.22Severance tax permanent fund; investment in obligations issued under Section 33-1-19 NMSA 1978 for corrections facilities 7-27-5.24Severance tax permanent fund; investment in obligations issued for state capitol buildings and renovations 7-27-5.26Investment in films to be produced in New Mexico 7-27-5.27Local government emergency economic relief 7-27-6Severance tax bonding fund pledged 7-27-7Special income to retire bonds 7-27-8Transfer of money to severance tax permanent fund 7-27-9Bonds to be known as severance tax bonds and supplemental severance tax bonds 7-27-10State board of finance shall issue bonds 7-27-10.1Transfer to severance tax permanent fund before determining bonding capacity; authorization for severance tax bonds; priority for water projects and tribal infrastructure projects 7-27-10.2Transfer to severance tax permanent fund before determining bonding capacity 7-27-11Authority to refund bonds 7-27-12When severance tax bonds to be issued 7-27-12.1Severance tax bonds; purpose for which issued; appropriation of proceeds 7-27-12.2Supplemental severance tax bonds; public school capital outlay and other projects 7-27-12.3Administration of certain bond proceeds appropriated to the public school capital outlay fund 7-27-12.4Authorization for severance tax bonds for severance tax transportation fund; appropriation of proceeds 7-27-12.5Authorization for severance tax bonds; priority for infrastructure projects for colonias 7-27-12.6Supplemental severance tax bonds; education technology infrastructure. (Repealed effective July 1, 2030.)7-27-12.7Supplemental severance tax bonds; university of New Mexico school of medicine 7-27-13Reserved 7-27-14Amount of tax; security for bonds 7-27-15Majority approval necessary for board action 7-27-16Form of bonds 7-27-17Execution of bonds 7-27-18Procedure for sale of bonds 7-27-19Severance tax bonds and supplemental severance tax bonds legal investments 7-27-20Expenses paid from severance tax bonding fund 7-27-21Treasurer to make bond payments and keep records 7-27-22Severance tax bonding act to be full authority for issuance of bonds 7-27-23Suit may be brought to compel performance of officers 7-27-24Bonds tax free 7-27-25No impairment of obligation of contract 7-27-26Severance tax bonding fund continued 7-27-27Purpose and intent 7-27-31Severance tax income bond retirement fund created 7-27-32Severance tax income bond retirement fund pledged 7-27-42Severance tax income bonds; legal investments 7-27-43Expenses paid from severance tax income bond retirement fund 7-27-44Treasurer to make bond payments and keep records 7-27-46Suit may be brought to compel performance of officers 7-27-47Bonds tax-free 7-27-48Temporary provision; no impairment of obligation of contract 7-27-49Authorization for severance tax bonds; New Mexico mortgage finance authority; New Mexico housing trust fund 7-27-50Capital development and reserve fund 7-27-51Capital development program fund 7-27-52Authorization for severance tax bonds; priority for projects funded by the capital development program fund