Section 58-23-12 - Council; duties. - New Mexico Statutes

58-23-12. Council; duties.

The council shall have the following duties:   

A.     to invest any funds not needed for immediate disbursement, including any funds held in reserve, in direct and general obligations of or obligations fully and unconditionally guaranteed by the United States, obligations issued by agencies of the United States, obligations of this state or any political subdivisions thereof, the unsecured promissory notes or other obligations of state and national banking associations and other entities having an investment grade rating or as otherwise provided by the trust indenture or bond resolution securing the issuance of the bonds;   

B.     to collect fees and charges as the council determines to be reasonable in connection with its loans, leases, sales, advances, insurance, commitments and servicing; and   

C.     to cooperate with and exchange services, personnel and information with any federal, state or local governmental agency.