New Mexico § 12-1-11 - Issuance of debentures

§ 12-1-11. Issuance of debentures

The New Mexico compilation commission is authorized to anticipate the proceeds of

the collection of any or all of the taxes or fees on civil actions hereinabove provided

for by the issuance and sale of New Mexico compilation commission debentures, in such

amounts not to exceed outstanding at any one time, the sum of two hundred thousand

dollars ($200,000), issuable at such times and bearing such rate of interest, not

exceeding four percent (4%) per annum, as the commission may determine. The debentures may be issued in serial form and shall mature at stated periods not

exceeding ten (10) years from the date of issuance. The debentures shall be, signed by the president of the commission, attested by

its secretary, countersigned by the treasurer of the state of New Mexico, and in such

form as may be provided by the attorney general.