The state board of finance may prescribe those terms and conditions it deems proper with respect to the repayment of any loan and the application of the proceeds of the loan, and it may require or waive security by way of the pledge of revenues or otherwise and may require or waive interest, as the board determines proper under the circumstances.
History: 1953 Comp., § 11-1-1.2, enacted by Laws 1959, ch. 139, § 2; 1973, ch. 92, § 2.
Structure New Mexico Statutes
Article 1 - State Board of Finance
Section 6-1-2 - State board of finance; loans and grants of emergency funds.
Section 6-1-3 - Loans of emergency funds; terms and conditions for repayment; security and interest.
Section 6-1-4 - Loans or grants obtained by political subdivisions; application of proceeds.
Section 6-1-6 - [Separate accounts.]
Section 6-1-8 to 6-1-12 - Repealed.
Section 6-1-13 - Deposit accounts by state agencies; authorization by state treasurer.