Said debentures shall be sold by the state treasurer to the highest bidder for cash at not less than par and accrued interest at such times and in such amounts as may be determined by the New Mexico compilation commission, after advertising the time and place of sale in such manner as the commission may determine. Provided, however, that said debentures or any part thereof may be sold by the state treasurer at any time at private sale without advertisement for not less than par and accrued interest. The state treasurer may, with the approval of the state board of finance, and other officials whose approval is required by law for investment of public funds, purchase any or all of such debentures at not less than par and accrued interest without the necessity of advertising or offering said debentures for public sale or after rejection of bids for all or part of any issue.
History: 1941 Comp., § 1-128, enacted by Laws 1953, ch. 39, § 11; 1953 Comp., § 1-1-11.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Structure New Mexico Statutes
Chapter 12 - Miscellaneous Public Affairs Matters
Article 1 - Compilation Commission
Section 12-1-1 - Ratification of contract.
Section 12-1-2 - New Mexico compilation commission; creation.
Section 12-1-3 - Powers of commission.
Section 12-1-3.1 - Additional powers of commission; master database.
Section 12-1-5 - New Mexico compilation fund; created.
Section 12-1-7 - Recognition as official compilation.
Section 12-1-8 - Rules of construction governing compilation of statutes.
Section 12-1-9 - Fee levy on actions filed.
Section 12-1-10 - Applicability [of increased fee].
Section 12-1-11 - Issuance of debentures.
Section 12-1-12 - [Sale of debentures.]