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."
Structure 2021 New Mexico Statutes
Article 12 - Land Office Building
Section 19-12-1 - Short title.
Section 19-12-3 - [Total cost of acquisition and construction; appropriation.]
Section 19-12-5 - Commissioner's power to provide for construction and maintenance; disbursements.
Section 19-12-6 - [Interest in contracts by commissioner or his agents prohibited.]
Section 19-12-7 - [Location of building; style of architecture.]
Section 19-12-7.1 - Name of land office building.
Section 19-12-9 - [Debentures; signed by commissioner; seal affixed.]
Section 19-12-10 - [Funds derived from sale of debentures; disposition.]
Section 19-12-12 - Contract for maintenance.
Section 19-12-13 - [Acceptance of gift, or loan, from federal government authorized.]