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Section 19-12-11 - [State investment officer may purchase state land office debentures; approval; private sale; interest rates.]

NM Stat § 19-12-11 (2019) (N/A)
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Any debentures authorized by the Land Office Building Act [19-12-1 to 19-12-13 NMSA 1978] may be purchased by the state investment officer as an investment for the permanent funds in his hands, with the approval of the officials whose approval is required by the constitution for the investment of permanent funds. The purchase by the state investment officer may be made at private sale without the necessity of advertising and at interest rates not to exceed the per annum rate prescribed by law.

History: 1953 Comp., § 7-14-12, enacted by Laws 1959, ch. 25, § 12.

Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.

Compiler's notes. — Section 6-8-4 NMSA 1978 named the director of the investment division of the department of finance and administration as the "state investment officer."

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Section 19-12-10 - [Funds derived from sale of debentures; disposition.]
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