Lease-purchase arrangements entered into under the authority of the Education Technology Equipment Act shall be legal investments in which all insurance companies, banks and savings and loan associations organized under the laws of the state, public officers and public bodies and all administrators, guardians, executors, trustees and other fiduciaries may properly and legally invest funds.
History: Laws 1997, ch. 193, ยง 12.
Structure 2021 New Mexico Statutes
Article 15A - Education Technology Equipment
Section 6-15A-1 - Short title.
Section 6-15A-3 - Definitions.
Section 6-15A-4 - Notice of proposed lease-purchase arrangements.
Section 6-15A-6 - Tax levy for payment of lease-purchase agreement.
Section 6-15A-7 - Lease-purchase arrangements; terms.
Section 6-15A-9 - Publication of notice; validation; limitation of action.
Section 6-15A-10 - Refunding or refinancing lease-purchase arrangements.
Section 6-15A-11 - Agreement of the state.
Section 6-15A-12 - Legal investments for public officers and fiduciaries.
Section 6-15A-13 - Tax exemption.
Section 6-15A-14 - Cumulative and complete authority.
Section 6-15A-15 - Liberal interpretation.
Section 6-15A-16 - Severability.
Section 6-15A-17 - Charter schools; receipt of education technology equipment.