Statutes > New Mexico Statutes > Chapter 6 - Public Finances. > Article 13 - Institution Bonds, 6-13-1 through 6-13-26. > Section 6-13-23 - Refunding; payment of bonds.

Section 6-13-23 - Refunding; payment of bonds.

6-13-23. Refunding; payment of bonds.

Refunding bonds issued under the Institution Bond Act [6-13-1 NMSA 1978] may be made payable from income from the permanent fund and from the income and current fund of the issuing institution, regardless of any modification thereby effected of the pledge of these sources for payment of the outstanding bonds to be retired and refunded.