{"data":{"id":"us-nm/22-19-11","jurisdiction":"us-nm","citation":"22-19-11","heading":"Bonds; form; requirements.","body":"All bonds or other special obligations issued pursuant to the School Revenue Bond Act shall:\nA. be fully negotiable within the provisions of the Uniform Commercial Code [Chapter 55 NMSA 1978];\nB. have a duration of time not to exceed forty years from their date of issuance;\nC. bear interest at a rate not to exceed a net of six percent a year, interest payable semiannually;\nD. be sold at a price which does not result in an actual net interest cost to maturity, computed on the basis of standard tables of bond values, in excess of six percent a year;\nE. have the principal thereof paid in yearly amounts beginning not later than two years from their date of issuance; and\nF. be sold at public or private sale, with or without a discount as provided by Subsection D of this section.","path":["Chapter 22 - Public Schools","ARTICLE 19 School Revenue Bonds"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18522/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"ad0d9639128373672a170e5c16cf1b160ce10bc07f3273dae0233706ef8b4a90","source_id":"us-nm","stale":false,"prev":"us-nm/22-19-10","next":"us-nm/22-19-12"},"notice":"GroundRules: Original legal text. Not legal advice."}