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NEW MEXICO STATUTES AND CODES
Section 58-24-9 - Required determinations of the authority.
58-24-9. Required determinations of the authority.
The authority may not issue bonds until the board has determined that:
A. the funds available in the private banking system in the state for project loans are inadequate to meet the demand; and
B. the issuance of the bonds will alleviate such inadequacy.
New Mexico Law
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