Project revenue bonds issued pursuant to the Statewide Economic Development Finance 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, including the state investment council, may properly and legally invest funds.
History: Laws 2003, ch. 349, § 11; 2005, ch. 103, § 11.
The 2005 amendment, effective April 4, 2005, after "legal investments" deleted "for savings bonds and insurance companies organized under the laws of the state", and added the remainder of the paragraph.
Structure 2021 New Mexico Statutes
Article 25 - Statewide Economic Development
Section 6-25-2 - Findings and purpose.
Section 6-25-4 - Economic development department; additional powers.
Section 6-25-6 - New Mexico finance authority; additional powers and duties.
Section 6-25-7 - Project revenue bonds.
Section 6-25-8 - Leases of projects.
Section 6-25-9 - Project revenue refunding bonds.
Section 6-25-10 - Use of project revenue bond proceeds.
Section 6-25-11 - Project revenue bonds legal investments.
Section 6-25-13 - Economic development revolving fund.
Section 6-25-14 - Tax impact fund.
Section 6-25-15 - Cumulative authority.
Section 6-25-16 - Liberal interpretation.
Section 6-25-17 - Economic development revolving fund bonds of the authority; use; security.
Section 6-25-19 - Economic development revolving fund bonds secured by trust indenture.
Section 6-25-20 - Publication of notice; validation; limitation of action.
Section 6-25-21 - Refunding bonds.
Section 6-25-22 - Economic development revolving fund and project revenue bond anticipation notes.
Section 6-25-24 - Agreement of the state.
Section 6-25-25 - Economic development revolving fund bonds; legal investments.
Section 6-25-26 - Tax exemption.
Section 6-25-27 - Proprietary information; confidentiality; penalty.
Section 6-25-28 - Application of other laws.
Section 6-25-29 - Temporary provision; fund name change; outstanding bonds; fund balances.