Section 19-12-11 - State investment officer may purchase state land office debentures; approval; private sale; interest rates. - New Mexico Statutes

19-12-11. [State investment  officer may purchase state land office debentures; approval; private sale; interest rates.]

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.