reglab/housing_qa huggingface dataset:
NM Stat § 6-10-26 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-26 - Quarterly reports of funds on demand deposit; investment in interest-bearing deposits and securities.

On or before the tenth day of each quarter of the fiscal year the state treasurer and the secretary of finance and administration shall report to the state board of finance the amount of money on deposit in state depositories, the account or funds to which the money is credited, the amount of money necessary in the opinion of each of such officers to be kept on demand deposit to meet expenses for the quarter, and the amount of money available, in the opinion of each of the officers, for investment for the ensuing quarter. The state board of finance, from such reports and other information which may be available to it, shall direct the state treasurer to invest such sums as it may determine as available for investment in interest-paying time deposits or short-term United States government securities, or a combination thereof. It is the further policy of the state of New Mexico to foster the banking business and the savings and loan business, and the board of finance shall not withdraw funds from the various banks and savings and loan associations of New Mexico if it is the banks' and savings and loan associations' desire to pay some reasonable interest rate on the funds. The state board of finance shall determine the rate of interest to be charged on the investments. The interest earned from the investment of this money shall be placed into the general fund of the state. History: 1953 Comp., § 11-2-25.2, enacted by Laws 1955, ch. 140, § 2; 1957, ch. 102, § 1; 1968, ch. 18, § 5; 1977, ch. 247, § 107; 1979, ch. 99, § 1. ANNOTATIONSInterest earned on investment of game protection fund is credited to that fund. This section relates to all surplus state funds, which is a "class," and not to the game protection fund specifically, which is less than a class and relates to a particular part of a class. Therefore, any interest earned on the investment of money in the game protection fund must be credited to that fund, not to the state general fund. 1982 Op. Att'y Gen. No. 82-01. Interest earned on investment in shooting range fund is credited to that fund, not the state general fund. 1980 Op. Att'y Gen. No. 80-17.
NM Stat § 6-10-27 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-27 - Provisions inapplicable to permanent and certain other funds.

The provisions of Sections 6-10-25 and 6-10-26 NMSA 1978, shall not apply to the investment of permanent funds or the income derived therefrom nor to the investment of funds otherwise authorized by law. History: 1953 Comp., § 11-2-25.3, enacted by Laws 1955, ch. 140, § 3; 1967, ch. 211, § 2. ANNOTATIONSInterest is generally an accretion or increment to principal fund earning it, and becomes a part of that fund. 1980 Op. Att'y Gen. No. 80-17.
NM Stat § 6-10-28 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-28 - Investment of bond proceeds.

The state treasurer, upon order of the state board of finance, shall invest the proceeds of state revenue and general obligation bonds until the money is needed for the purpose for which the bonds were authorized and sold. Income from these investments shall be applied to payment of principal of and interest on the bonds, for the purposes for which the bonds were issued or to pay rebate, penalty, interest and other obligations of the state relating to the bonds under the Internal Revenue Code of 1986, as amended, including any regulations applicable under the code. History: 1953 Comp., § 11-2-25.4, enacted by Laws 1967, ch. 211, § 3; 1988, ch. 45, § 1. ANNOTATIONSCross references. — For the Internal Revenue Code of 1986, see Title 26 of the United States Code. The 1988 amendment, effective March 4, 1988, in the second sentence, substituted "shall be applied to payment of principal" for "shall be credited to the appropriate fund to apply toward payment of principal", added the phrase beginning "for the purposes for which" at the end of the subsection, and made minor stylistic changes.
NM Stat § 6-10-29 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-29 - Banks, savings and loan associations and credit unions to furnish statement of deposits monthly; credit interest monthly; signature to checks.

A. Every bank, savings and loan association and credit union holding public money deposited by the state treasurer shall, on the first day of each month during the time in which it holds such deposits, furnish to the state treasurer and to the financial control division of the department of finance and administration an itemized statement concerning the deposit, showing the daily balance for the last preceding month and interest accrued thereon. These statements shall be filed by the state treasurer and the financial control division and be public records. Every bank, savings and loan association and credit union having public money on deposit other than that deposited by the state treasurer shall furnish to the treasurer depositing the same and to the board of finance which issued the certificate under which it holds such money, on the first day of each month during the time in which it holds any such money on deposit, an itemized statement concerning the deposit, showing the daily balance of the deposit account for the last preceding month and interest accrued thereon, which statement shall be filed in regular order and carefully preserved in the respective offices. Upon the first day of each month, all interest accrued upon the deposit shall by the bank, savings and loan association or credit union be credited to the state, county, municipality or board in control whose money it so holds. B. All checks drawn against any account of public money deposited or against any interest account shall be signed by the proper officer authorized to sign them and in his official capacity. C. "Deposit", as used herein, means either investment or deposit and includes share, share certificate and share draft. History: Laws 1923, ch. 76, § 14; C.S. 1929, § 112-114; 1941 Comp., § 7-223; 1953 Comp., § 11-2-26; Laws 1968, ch. 18, § 6; 1975, ch. 157, § 3; 1987, ch. 79, § 9. ANNOTATIONSThe 1987 amendment, effective June 19, 1987, in Subsection A inserted "and credit union" following "savings and loan association" in the first, third and last sentences; in Subsection C added at the end "and includes share, share certificate, and share draft"; and made minor language changes throughout the section. Am. Jur. 2d, A.L.R. and C.J.S. references. — 63C Am. Jur. 2d Public Funds § 9. 26A C.J.S. Depositaries § 12(1).
NM Stat § 6-10-30 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-30 - Interest rates set by state board of finance.

The state board of finance at any time, but at least once each fiscal year, shall fix the rate of interest to be paid upon all time deposits of public money made by all public officials authorized to make deposits of public money. History: 1953 Comp., § 11-2-27, enacted by Laws 1975, ch. 304, § 1; 2001, ch. 55, § 1. ANNOTATIONSRepeals and reenactments. — Laws 1975, ch. 304, § 1, repealed 11-2-27, 1953 Comp., relating to interest rates and powers of state board of finance, and enacted a new section. The 2001 amendment, effective June 15, 2001, changed the minimum number of times the board of finance shall fix interest rates from once each quarter to once each fiscal year. Home-rule municipalities may establish interest rates in conflict with those of board of finance. — Home-rule municipalities have the right to establish an interest rate policy pursuant to N.M. Const., art. X, § 6, that may be in conflict with the interest rate policy established by the board of finance. 1975 Op. Att'y Gen. No. 75-56. Am. Jur. 2d, A.L.R. and C.J.S. references. — 63C Am. Jur. 2d Public Funds § 10. Termination of interest, or reduction of interest rate, on deposit of public funds, 107 A.L.R. 1210. 26A C.J.S. Depositaries § 12(1).
NM Stat § 6-10-31 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-31 - Interest on time deposits.

Any board of finance may, whenever in its opinion such a course is advisable and the public money under its control, or any part thereof, will not be needed immediately for public purposes, place such funds on time deposit with a bank, savings and loan association or credit union whose deposits are insured by an agency of the United States, taking the certificate of deposit or other evidence of indebtedness of the bank, savings and loan association or credit union receiving the deposit; provided, however, that all such deposits shall be secured as provided by law. No county or municipal board of finance shall make any deposits outside of its county. History: Laws 1929, ch. 92, § 1; C.S. 1929, § 112-201; 1941 Comp., § 7-225; 1953 Comp., § 11-2-28; Laws 1968, ch. 18, § 7; 1973, ch. 78, § 1; 1975, ch. 157, § 4; 1981, ch. 332, § 11; 1987, ch. 79, § 10. ANNOTATIONSThe 1987 amendment, effective June 19, 1987, inserted "or credit union" following "savings and loan association" both places it appears and made minor changes in language throughout the section. County treasurer's authority. — The county treasurer, with the advice and consent of the board of finance, may invest public funds on time deposits with a bank. Board of Cnty. Comm'rs v. Padilla, 1990-NMCA-125, 111 N.M. 278, 804 P.2d 1097. Investment in certificates of deposit. — The New Mexico school for the deaf may invest surplus funds in certificates of deposit. 1969 Op. Att'y Gen. No. 69-27.
NM Stat § 6-10-32 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-32 - Treatment of interest on land grant funds.

All interest collected by the state treasurer on deposits, whether on time deposits or otherwise, in any bank, in any savings and loan association or in any credit union whose deposits are insured by an agency of the United States of money belonging to the common school permanent or income funds or to any other fund derived from lands granted to the state by any act of congress shall be treated by the state treasurer as income of the funds to which that money belongs and as collected by him shall be credited accordingly. History: Laws 1929, ch. 92, § 2; C.S. 1929, § 112-202; 1941 Comp., § 7-226; 1953 Comp., § 11-2-29; Laws 1968, ch. 18, § 8; 1987, ch. 79, § 11. ANNOTATIONSThe 1987 amendment, effective June 19, 1987, inserted "or in any credit union" following "savings and loan association" and made minor changes in language throughout the section. Interest is generally an accretion or increment to principal fund earning it, and becomes a part of that fund. 1980 Op. Att'y Gen. No. 80-17. Only enumerated funds entitled to interest income. — By excluding all other funds, this section seems to direct that only funds deposited in any bank belonging to common school permanent or income funds or other funds derived from lands granted to the state by any act of congress are entitled to the interest income upon bank deposits. 1932 Op. Att'y Gen. No. 32-510. Disposition of interest on funds other than ones covered by this section. — All interest earnings upon daily balances on deposit, except on funds mentioned in this section, should be credited to the interest-on-deposits fund and eventually to the general fund of the state. 1932 Op. Att'y Gen. No. 32-510.
NM Stat § 6-10-33 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-33 - Interest limited to maximum permitted by federal law or regulation.

No deposit of public funds shall bear interest where any bank, savings and loan association or credit union is precluded from paying interest on the deposit by federal law or the regulations of any agency or instrumentality of the United States, and no deposit of public funds shall bear a greater interest rate than banks, savings and loan associations or credit unions are authorized to pay under such federal laws or regulations. History: 1953 Comp., § 11-2-30, enacted by Laws 1975, ch. 157, § 5; 1981, ch. 332, § 12; 1987, ch. 79, § 12. ANNOTATIONSRepeals and reenactments. — Laws 1975, ch. 157, § 5, repealed 11-2-30, 1953 Comp., relating to interest limited to maximum permitted by federal law or regulation, and enacted a new 6-10-33 NMSA 1978. The 1987 amendment, effective June 19, 1987, inserted "or credit union" following "savings and loan association" and made minor changes in language throughout the section. Applicability to 6-10-36E NMSA 1978. — The statutory requirement, 6-10-36E NMSA 1978, that a financial institution forfeit a deposit of public money for failure to pay the rate of interest set by the state board of finance does not apply in the event that the rate is not paid because of federal law or regulation. 1982 Op. Att'y Gen. No. 82-06.
NM Stat § 6-10-34 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-34 - Withdrawal of time deposits subject to federal law or regulation.

Notwithstanding any other provision of law, no time deposit of public funds in a member of the federal reserve system, as that term is or may be defined by law or regulation of the board of governors of the federal reserve system, or in a bank or savings and loan association which is a member of the federal home loan bank or the federal savings and loan insurance corporation or in a credit union which is chartered or insured by the national credit union administration may be withdrawn before maturity, except under the conditions as the member bank or savings and loan association or credit union is authorized to repay the deposit before maturity under federal law or regulation, and no time deposit of public funds in a nonmember of the federal reserve system, federal home loan bank system or federal savings and loan insurance corporation, as the term "time deposit" is or may be defined by federal law or regulation of the federal deposit insurance corporation, shall be withdrawn before maturity, except under the conditions as a bank not a member of the federal reserve system, but insured by the federal deposit insurance corporation, is authorized to repay the deposit before maturity under federal law or regulation of the federal deposit insurance corporation. History: Laws 1937, ch. 19, § 2; 1941 Comp., § 7-228; 1953 Comp., § 11-2-31; 1981, ch. 332, § 13; 1987, ch. 79, § 13. ANNOTATIONSThe 1987 amendment, effective June 19, 1987, inserted "or in a credit union which is chartered or insured by the national credit union administration" following "or the federal savings and loan insurance corporation" just before the middle of the section and "or credit union" following "savings and loan association" in the middle of the section, and made minor changes in language throughout the section.
NM Stat § 6-10-36.1 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-36.1 - Receipts of public money; disposition by certain municipalities.

A municipality or village having within its boundaries no suitable banking facility in which to deposit collected receipts of public money shall deposit receipts within a period not to exceed five days from the date of collection, except when inclement weather or natural disaster conditions exist, in which case the period is extended to ten days; provided the municipality or village adopts a reasonable administrative policy approved by the local government division of the department of finance and administration establishing procedures for the safeguarding of the public funds prior to deposit. History: Laws 1997, ch. 161, § 1; 2007, ch. 130, § 1. ANNOTATIONSCross references. — For deposit and investment of funds, see 6-10-10 NMSA 1978. The 2007 amendment, effective June 15, 2007, increased the time for deposit of funds to ten days when inclement weather or natural disaster conditions exist.
NM Stat § 6-10-37 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-37 - State treasurer to make deposits.

The state treasurer shall deposit all money in his custody equitably among bank and savings and loan association depositories and, at his discretion in credit unions applying therefor when qualifying under the terms of this Act subject to the control and regulation of the state board of finance as otherwise in this Act provided. History: Laws 1923, ch. 76, § 12; C.S. 1929, § 112-112; 1941 Comp., § 7-231; 1953 Comp., § 11-2-34; Laws 1987, ch. 79, § 16. ANNOTATIONSCompiler's notes. — The term "this Act," which appears twice in this section, refers to Laws 1923, ch. 76, presently compiled as 6-1-1, 6-10-2, 6-10-3, 6-10-20, 6-10-29, 6-10-37 to 6-10-42, 6-10-44, 6-10-46, 6-10-47, 6-10-50, 6-10-52 to 6-10-54, 6-10-58 and 6-10-61 NMSA 1978. The 1987 amendment, effective June 19, 1987, substituted "among bank and savings and loan association depositories and, at his discretion in credit unions" for "bank depository" and made a minor change in language. State board of finance has no authority to distribute funds in various depository banks, nor to specify the amount each should receive. Nor has it, nor any other state agency, the right to use public funds in payment of services in making collections from other state depositories. 1922 Op. Att'y Gen. No. 22-3272. Am. Jur. 2d, A.L.R. and C.J.S. references. — 26A C.J.S. Depositaries § 11.
NM Stat § 6-10-40 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-40 - Officials receiving consideration for placing loan or deposit; misusing funds; failure to deposit; penalty.

Any person holding the office of state treasurer or the office of treasurer of any county, city, town or board in control in this state or any public officer or employee having in his custody or under his control any public money, who directly or indirectly receives from any person or persons or body of persons, association or corporation for himself or otherwise than in behalf of the state, county, city, town or board in control, whose money is so in his custody or under his control, any reward, compensation or profit, either in money or other property or thing of value, in consideration of a loan to or a deposit with any such person or persons or body of persons, association or corporation, of any of the public money so in his custody or under his control, or in consideration of any other agreement or arrangement touching the use of the money or any part thereof or who shall use or permit the use of any of the money for any purpose not authorized by law or who shall willfully neglect or refuse to deposit the money in his custody as required by this act or shall willfully deposit the money in his custody in any bank, federally insured savings and loan association or federally insured credit union not qualified to receive it under the provisions of this act or in excess of the amount for which the bank, federally insured savings and loan association may have qualified shall be deemed guilty of a felony and, upon conviction thereof, shall be punished by a fine of not more than five thousand dollars ($5,000) or by imprisonment for not more than ten years or both. History: Laws 1923, ch. 76, § 18; C.S. 1929, § 112-118; 1941 Comp., § 7-235; 1953 Comp., § 11-2-38; Laws 1975, ch. 157, § 7; 1987, ch. 79, § 17. ANNOTATIONSCompiler's notes. — The term "this act," which appears twice in this section, refers to Laws 1923, ch. 76, presently compiled as 6-1-1, 6-10-2, 6-10-3, 6-10-20, 6-10-29, 6-10-37 to 6-10-42, 6-10-44, 6-10-46, 6-10-47, 6-10-50, 6-10-52 to 6-10-54, 6-10-58 and 6-10-61 NMSA 1978. The 1987 amendment, effective June 19, 1987, inserted "or federally insured credit union" following "federally insured savings and loan association" in the last third of the section and made minor changes in language throughout the section. Am. Jur. 2d, A.L.R. and C.J.S. references. — 63C Am. Jur. 2d Public Officers and Employees §§ 369 to 376. 20 C.J.S. Counties § 142; 62 C.J.S. Municipal Corporations § 549; 81A C.J.S. States § 129; 87 C.J.S. Towns §§ 84, 88.
NM Stat § 6-10-41 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-41 - Suspense account unearned money; transfer.

All unearned moneys deposited in a suspense account with the state treasurer by any state officer or state agency shall, as soon as the same shall become the absolute property of the state of New Mexico, be transferred out of said suspense account to the proper fund by the warrant of the secretary of finance and administration based upon a voucher of the proper state official or agency, as the case may be. Whenever it shall be finally determined that any moneys so deposited in a suspense account should be returned, repaid or refunded to the person, firm or corporation from whom the same were received, such moneys shall be paid out of the suspense account of the state treasurer upon a warrant drawn by the secretary of finance and administration based upon a voucher from the proper state official or agency, as the case may be. History: Laws 1923, ch. 76, § 22; C.S. 1929, § 112-122; 1941 Comp., § 7-236; 1953 Comp., § 11-2-39; Laws 1977, ch. 247, § 108. ANNOTATIONSFunds are not state property until deposited in state treasury. — Where purchase price of state land was not deposited in state treasury, the money did not become the property of the state and the purchaser did not acquire an interest in the land. Laguna Gatuna, Inc. v. U.S. 50 Fed.Cl. 336 (2001). Constitutional provisions not applicable to suspense funds. — New Mexico Const., art. IV, § 30 does not apply to suspense funds provided for in this section. 1930 Op. Att'y Gen. No. 30-66. Am. Jur. 2d, A.L.R. and C.J.S. references. — 63C Am. Jur. 2d Public Funds §§ 1, 3, 4; 72 Am. Jur. 2d States, Territories, and Dependencies §§ 75 to 86. 81A C.J.S. States § 226.
NM Stat § 6-10-43 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-43 - Interest and sinking-fund balances.

If a balance remains in an interest or sinking fund of any county, municipality, school district or other political subdivision after the retirement and payment in full of the bonded indebtedness for which the interest and sinking fund was created, upon request of the governing body in charge of the expenditure of the funds, the secretary of finance and administration may approve the transfer of the balance to the fund requested by the county, municipality, school district or other political subdivision. Any balance transferred under this section shall be used for nonrecurring expenditures only. History: 1953 Comp., § 11-2-40.1, enacted by Laws 1971, ch. 105, § 1; 1977, ch. 247, § 109.