New Mexico Statutes Chapter 6. Public Finances § 6-12A-7. Anticipation notes debt service fund created
Current as of May 06, 2021 | Updated by FindLaw Staff
Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
The “anticipation notes debt service fund” is created in the state treasury. Upon collection of anticipated revenue that has been pledged for the payment of principal of and interest on the outstanding anticipation notes, the state treasurer shall deposit into the fund that portion of the pledged revenue necessary for payment of the principal of and interest on anticipation notes. Anticipated revenue in the fund is appropriated to the state treasurer for the payment of anticipation notes with interest at maturity. Money in the fund shall be held for the benefit of the registered owner or owners of the anticipation notes and for no other purpose.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 6. Public Finances § 6-12A-7. Anticipation notes debt service fund created - last updated May 06, 2021 | https://codes.findlaw.com/nm/chapter-6-public-finances/nm-st-sect-6-12a-7.html
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?