{"data":{"id":"us-nm/22-19a-9","jurisdiction":"us-nm","citation":"22-19A-9","heading":"Bonds; form; requirements.","body":"All bonds issued pursuant to the Teacher Housing 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. have interest, appreciated principal value or any part thereof payable at intervals or at maturity as determined by the local school board;\nD. be sold at a price that does not result in a net effective interest rate in excess of twelve percent a year unless a higher rate of interest is approved by the state board of finance pursuant to the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978];\nE. have a principal maturity schedule as determined by the local school board; and\nF. be sold at public or private sale at, above or below par.","path":["Chapter 22 - Public Schools","ARTICLE 19A Teacher Housing Revenue Bond"],"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":"37e17e03844144aed62d3ee71550924731e0ee72c46af6325dc7f609d13f67c9","source_id":"us-nm","stale":false,"prev":"us-nm/22-19a-8","next":"us-nm/22-19a-10"},"notice":"GroundRules: Original legal text. Not legal advice."}