A. The bonds shall be issued and sold in the manner authorized under Sections 6-15-3 through 6-15-10 NMSA 1978.
B. The bonds shall be of such denomination or denominations and shall be payable at such place or places within or without the state or both, shall be in such form, and otherwise shall bear such terms and conditions, as the governing body may determine, except as otherwise provided by law.
C. Said bonds shall be signed by the mayor and by the clerk, and the coupons appertaining thereto shall be signed by the treasurer.
D. The facsimile signature of the treasurer may be engraved, imprinted, stamped or otherwise reproduced on the coupons.
E. The bonds may be executed in the manner provided by the Uniform Facsimile Signature of Public Officials Act [6-9-1 to 6-9-6 NMSA 1978].
History: 1953 Comp., § 14-29-8, enacted by Laws 1965, ch. 300.
Cross references. — For destruction of documentary evidence of extinguished public debt, see 6-10-62 NMSA 1978.
Constitutionality. — This section does not fall within constitutional prohibition against special or local laws regulating precinct affairs. City of Raton v. Sproule, 1967-NMSC-141, 78 N.M. 138, 429 P.2d 336.
Bonds invalid where statutory election procedure not followed. — Because the board of trustees, in holding an election to determine the issuance of bonds, did not follow the procedure prescribed by statute, the bonds authorized at such election were invalid. Lanigan v. Town of Gallup, 1913-NMSC-024, 17 N.M. 627, 131 P. 997.
Sale of general obligation bonds below par and accrued interest was illegal. Stone v. City of Hobbs, 1950-NMSC-032, 54 N.M. 237, 220 P.2d 704.
Bonds not invalidated by sale by successor officers. — Bonds signed by the proper officers in office at the date of execution of the same were not invalidated by fact that the sale of the bonds was not concluded by such officers, but by their successors. City of Albuquerque v. Water Supply Co., 1918-NMSC-088, 24 N.M. 368, 174 P. 217.
Refunding. — A municipality in refunding part of a single issue of water bonds, redeemable before maturity, may exercise its discretion in selecting bonds to be refunded. Town of Alamogordo v. Beall, 1937-NMSC-003, 41 N.M. 93, 64 P.2d 384.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations §§ 182 to 217.
Bid for municipal bond issue, rights and obligations arising out of, 139 A.L.R. 1047.
Sale of municipal or other public bonds at less than par or face value, 162 A.L.R. 396.
64 C.J.S. Municipal Corporations §§ 1930, 1935, 1941.
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