reglab/housing_qa huggingface dataset:
NM Stat § 6-11-3 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 11 - Acceptance and Disbursement of United States Funds|Section 6-11-3 - Application of money to forest reserve school purposes fund and county road fund; expenditure upon roads; building of roads.

A. Money received under Section 6-11-2 NMSA 1978 shall be applied in the different counties to which it is transmitted as follows: (1) one-half to the credit of the forest reserve school purposes fund, hereby created; and (2) one-half to the credit of the county road fund. B. One-half of the money accruing to any county and duly remitted to the county treasurer to be credited to the county road fund under Subsection A of this section may be expended by the board of county commissioners upon roads within forest reserves in those counties and upon those other roads in the counties deemed by the boards of county commissioners to be necessary or convenient to the public. History: 1953 Comp., § 11-3-3, enacted by Laws 1978, ch. 128, § 2. ANNOTATIONSRepeals and reenactments. — Laws 1978, ch. 128, § 2, repealed 11-3-3, 1953 Comp. (former 6-11-3 NMSA 1978), relating to application of money to forest reserve school purposes fund and county road fund, expenditure upon roads and building of roads, and enacted a new section. Method of distribution provided here is exclusive and must be followed, and school districts of the county must share in the distribution according to that method whether or not forest land is located within their boundaries. 1955 Op. Att'y Gen. No. 55-6224 (decided under former law).
NM Stat § 6-11-4 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 11 - Acceptance and Disbursement of United States Funds|Section 6-11-4 - [Officer not to receive compensation; misapplication of funds; penalty; removal.]

No officer shall receive any compensation for the receipt, handling or disbursement of said funds, and any officer who shall apply said funds to any other purpose than the purpose mentioned in this article and in the acts of congress referred to, shall forfeit treble the amount so misapplied and shall be immediately removed from office. History: Laws 1909, ch. 119, § 4; Code 1915, § 1353; C.S. 1929, § 33-5805; 1941 Comp., § 7-304; 1953 Comp., § 11-3-4. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
NM Stat § 6-11-7 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 11 - Acceptance and Disbursement of United States Funds|Section 6-11-7 - Short title.

This act [6-11-7 to 6-11-9 NMSA 1978] may be cited as the "Public Works Grant-in-Aid Act." History: Laws 1979, ch. 307, § 1.
NM Stat § 6-11-8 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 11 - Acceptance and Disbursement of United States Funds|Section 6-11-8 - Public works grant-in-aid fund.

There is created in the state treasury the "public works grant-in-aid fund." History: Laws 1979, ch. 307, § 2.
NM Stat § 6-11-9 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 11 - Acceptance and Disbursement of United States Funds|Section 6-11-9 - Administration; limitations.

A. The secretary of the department of finance and administration shall administer the public works grant-in-aid fund and shall process all applications for grants from that fund. Grants may be made from the fund for the purpose of meeting the state matching requirement in public works projects in accordance with the provisions of Section 304, Title 3 of the federal Public Works and Economic Development Act of 1965, as amended. B. The commerce and industry department shall develop standards and criteria for awarding grants for public works projects for the approval of the governor. Incorporated municipalities or counties sponsoring projects of unincorporated communities, including, but not limited to, Indian communities, shall be entitled to receive funds from the public works grant-in-aid fund. Projects proposed must be in accordance with the provisions of the federal Public Works and Economic Development Act of 1965, as amended. All terminology contained in that act relating to nonprofit organizations shall be disregarded as such entities are not eligible for state financial assistance. History: Laws 1979, ch. 307, § 3; 1983, ch. 296, § 22. ANNOTATIONSCross references. — For public works contracts, see 13-4-1 NMSA 1978 et seq. For Section 304, Title 3 of the federal Public Works and Economic Development Act of 1965, see 42 U.S.C. § 3153. For the act generally, see 42 U.S.C. § 3121 et seq. Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Works and Contracts §§ 2, 3.
NM Stat § 6-12-1 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12 - State Indebtedness|Section 6-12-1 - [Borrowing or investing permanent funds to pay interest on state bonds.]

The state treasurer is authorized by this article [6-12-1, 6-12-2 NMSA 1978] in order to provide for the prompt payment of interest on the bonded indebtedness of the state, to borrow money upon the best terms possible, but at a rate of interest not to exceed six percent, and for the shortest practicable time, in quantity sufficient to pay any interest as it accrues, whenever the money in the state treasury, applicable to such payment is insufficient to meet interest coupons as they mature, unless there should be in any one or more of the funds in which are placed the proceeds of the administration of public lands donated to the territory or state of New Mexico by congress, money which is not needed for immediate use for the purposes for which such lands were donated and which is to be invested in accordance with the requirements of the acts of congress and of the constitution, or funds in the permanent school fund, in which case the state treasurer may invest so much of such fund, or funds, as may be necessary for the purpose of meeting the interest-bearing obligations, in an interest-bearing obligation to be executed by him, the interest thereon to run until both principal and interest can be paid back to the fund or funds from which it may have been borrowed. History: Laws 1913, ch. 45, § 1; Code 1915, § 4582; C.S. 1929, § 109-302; 1941 Comp., § 7-501; 1953 Comp., § 11-5-1. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Compiler's notes. — The term "this article," referred to near the beginning of this section, appears in Code 1915, § 4582, and refers to Article III of Chapter XCI of that code. That article consisted of §§ 4581 and 4582, which are presently compiled as 6-12-1 and 6-12-2 NMSA 1978. Cross references. — For destruction of documentary evidence of extinguished debt, see 6-10-62 NMSA 1978. For the Short-Term Cash Management Act, see Chapter 6, Article 12A NMSA 1978. Authority to borrow. — The state treasurer is authorized by this act (article) to borrow money for the payment of interest on bonds for the benefit of a territorial county. This is a debt of the state assumed in N.M. Const., art. IX, § 1. 1913 Op. Att'y Gen. No. 13-1095. Transfer may be made from one fund to another to meet interest on state debts. 1914 Op. Att'y Gen. No. 14-1367. Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations § 375. 81A C.J.S. States §§ 213, 214, 261.
NM Stat § 6-12-2 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12 - State Indebtedness|Section 6-12-2 - Certificates of indebtedness and interest; treasurer may borrow to pay.

Whenever the money in the funds is insufficient to meet the outstanding certificates of indebtedness and interest coupons as they mature, it shall be the duty of the state treasurer to borrow temporarily a sufficient sum to make such payment, and for such purposes the said treasurer is hereby authorized and empowered to make and negotiate the necessary loan on the best terms obtainable, at a rate of interest not to exceed six per centum per annum; provided, that any surplus money in the interest on deposits fund and any surplus of any other fund on hand not otherwise appropriated shall be first used to pay said deficit before borrowing money to make such payments. The secretary of finance and administration shall countersign any and all necessary papers for the negotiation of such loan, and charge the proceeds to the treasurer, and the treasurer shall redeem such paper out of the interest fund whenever there shall be money in such fund available. History: Laws 1913, ch. 83, § 1; Code 1915, § 4581; C.S. 1929, § 109-301; 1941 Comp., § 7-502; 1953 Comp., § 11-5-2; Laws 1977, ch. 247, § 133. ANNOTATIONSCompiler's notes. — This section was a proviso to § 1 of the 1913 Appropriation Act, and the reference to "the funds" in the first clause evidently referred to the appropriation for payment of interest on the bonded indebtedness and for interest and principal on certificates of indebtedness for 1909 and 1912 which preceded it. Authority to pay interest on county bonds. — The state treasurer is authorized to pay interest on Grant county bonds, as a part of the state indebtedness under this section. 1913 Op. Att'y Gen. No. 13-1014. Am. Jur. 2d, A.L.R. and C.J.S. references. — 81A C.J.S. States §§ 213, 214, 261.
NM Stat § 6-12-3 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12 - State Indebtedness|Section 6-12-3 - Repealed.

History: 1941 Comp., § 7-503, enacted by Laws 1941, ch. 172, § 1; 1953 Comp., § 11-5-3; 1978 Comp., § 6-12-3, repealed by Laws 2004, ch. 73, § 1. ANNOTATIONSRepeals. — Laws 2004, ch. 73, § 1 repealed 6-12-3 NMSA 1978, as enacted by Laws 1941, ch. 172, § 1, relating to bonds, debentures and certificates of indebtedness authorized in 1941 and investment of the state's permanent funds, effective May 19, 2004. For provisions of former section, see the 2003 NMSA 1978 on NMOneSource.com.
NM Stat § 6-12-4 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12 - State Indebtedness|Section 6-12-4 - [Public sale of securities.]

Such bonds, debentures and certificates shall, notwithstanding the provisions of any other law, bear the lowest rates of interest obtainable but not exceeding four percent per annum, and shall be sold for not less than par and accrued interest; and if sold to persons other than the state treasurer shall be sold for cash and only to the bidder or bidders offering the highest price, not less than par and accrued interest, or offering to purchase the same at par and accrued interest, or offering to purchase said debentures at par and accrued interest at the lowest rate of interest, and only after advertising the time and place of sale by notice published for two consecutive weeks in one newspaper published in the city of Santa Fe, New Mexico, and one newspaper published in the city of New York, the first publication to be not less than fifteen days prior to the date of sale. History: 1941 Comp., § 7-504, enacted by Laws 1941, ch. 172, § 2; 1953 Comp., § 11-5-4. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations §§ 202 to 203.
NM Stat § 6-12-5 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12 - State Indebtedness|Section 6-12-5 - [Application of act.]

The provisions of this act [6-12-4, 6-12-5 NMSA 1978] shall be applicable to the bonds, debentures or certificates of indebtedness which have been or may be authorized by the fifteenth legislature to be issued by the state of New Mexico, the New Mexico insane asylum [Las Vegas medical center], the 1941 compilation commission, the state office building commission of New Mexico, the New Mexico normal university [New Mexico highlands university] and other state institutions. History: 1941 Comp., § 7-505, enacted by Laws 1941, ch. 172, § 3; 1953 Comp., § 11-5-5. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. An amendment to N.M. Const., article XIV § 1, adopted September 20, 1955, changed the name of the New Mexico insane asylum to the New Mexico state hospital. The New Mexico state hospital is now known as the Las Vegas medical center. See 23-1-13 NMSA 1978. The state school formerly known as the New Mexico normal university is now the New Mexico highlands university. See N.M. Const., art. XII, § 11. As to bonds, debentures or certificates of indebtedness of the university, see §§ 21-3-13 to 21-3-28 NMSA 1978. Compiler's notes. — The state office building commission was created by Laws 1941, ch. 62, § 3 (compiled as 6-216, 1941 Comp.). That act was ruled unconstitutional in State Office Bldg. Comm'n v. Trujillo, 1941-NMSC-051, 46 N.M. 29, 120 P.2d 434.
NM Stat § 6-12-6 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12 - State Indebtedness|Section 6-12-6 - State refunding bonds; authorized; purpose.

The state treasurer may, with the approval of the state board of finance, issue bonds in such form as the state treasurer shall determine to be designated refunding bonds for the purpose of refunding any of the bonded indebtedness of the state now existing or hereafter created which has or may hereafter become due and payable at the option of the state or by consent of the bondholders or by any lawful means and for the payment or redemption of which there are insufficient funds available in the state treasury. History: Laws 1935, ch. 4, § 1; 1941 Comp., § 7-506; 1953 Comp., § 11-5-6; Laws 1983, ch. 265, § 23. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations § 38. 81A C.J.S. States § 259.
NM Stat § 6-12-7 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12 - State Indebtedness|Section 6-12-7 - Refunding bond issuance; procedure.

Whenever the state treasurer deems it expedient to issue refunding bonds under the provisions of Sections 6-12-6 through 6-12-14 NMSA 1978, he shall present to the state board of finance in writing a statement of the outstanding bonds proposed to the [be] refunded, setting out in full and in detail in the statement all data and information necessary to a full and clear understanding of the proposal to refund, whereupon the state board of finance if it considers the proposal to be in the best interest of the state and elects to act favorably upon it shall adopt a resolution which shall be recorded in its permanent records, which resolution shall set out the facts making the issuance of the refunding bonds necessary or advisable, the determination of the necessity or advisability by the board and the amount of the refunding bonds which it is deemed necessary and advisable to issue. The resolution shall fix the rate of interest on the refunding bonds, the dates of the refunding bonds, the denomination or denominations thereof, the maturity dates which shall not be more than twenty years from the date of the refunding bonds, the place or places of payment within or without the state of both principal and interest and shall further set out in full the form of the refunding bonds and coupons, if any; provided that where bonds are issued to refund existing and outstanding bonds which may be redeemed prior to their maturity, as set out in the bonds to be refunded, the date of maturity of those refunding bonds shall not extend beyond the date of final maturity of the bonds to be so refunded. In the event bonds which may be redeemed prior to their maturity are to be called for refunding prior to their maturity date, the state treasurer shall call the bonds for payment on the dates, under the conditions and in the manner provided in the bonds. History: Laws 1935, ch. 4, § 2; 1941 Comp., § 7-507; 1953 Comp., § 11-5-7; Laws 1983, ch. 265, § 24. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
NM Stat § 6-12-8 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12 - State Indebtedness|Section 6-12-8 - Refunding bonds; formal requisites; registration.

All refunding bonds issued under Sections 6-12-6 through 6-12-14 NMSA 1978 shall recite the title of the act under which they are issued, shall, except for bonds issued in book entry or similar form without the delivery of physical securities, be executed in the name of the state, signed by the governor, attested by the secretary of state under the seal of the state and countersigned by the state treasurer and shall be registered by the state auditor or other authorized registrar in a book or other record to be kept by the state auditor or such other authorized registrar for that purpose, which book or other record shall state the date, number, amount and maturity of each bond. The interest accruing on the refunding bonds shall be payable semiannually and may be evidenced by semiannual interest coupons attached, bearing the facsimile signature of the state treasurer in office at the time the bonds and coupons are prepared and ordered to be engraved or lithographed and, when so executed, such coupons, if any, shall be the binding obligation of the state according to their import. The refunding bonds may also be in registered or other form as provided in the Supplemental Public Securities Act [6-14-8 to 6-14-11 NMSA 1978], as hereinafter amended and supplemented. History: Laws 1935, ch. 4, § 3; 1941 Comp., § 7-508; 1953 Comp., § 11-5-8; Laws 1983, ch. 265, § 25. ANNOTATIONSCross references. — For facsimile signatures of public officials, see 6-9-1 NMSA 1978 et seq.
NM Stat § 6-12-9 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12 - State Indebtedness|Section 6-12-9 - [Manner of payment of principal and interest; maturity in annual installment; schedule of maturities.]

Both principal and interest of said bond[s] shall be payable in lawful money of the United States, at the office of the state treasurer, or at such other place as may be designated in said bonds and in the coupons attached thereto, at the option of the holder. The principal of said bonds shall be made to mature in annual installments, to begin not later than two years from the date of said bonds. The state board of finance shall, by resolution duly adopted, fix the schedule of maturities of principal to the end that total annual principal and interest requirements shall be approximately equal in each year when any of the said bonds mature, except that the total requirement for principal and interest in the last year in which any of said bonds mature, may exceed the average of the annual requirements for principal and interest in prior years during which bonds mature, by not exceeding twenty-five percent. History: Laws 1935, ch. 4, § 4; 1941 Comp., § 7-509; 1953 Comp., § 11-5-9. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
NM Stat § 6-12-10 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12 - State Indebtedness|Section 6-12-10 - [Validity.]

The said bonds signed, countersigned, endorsed and sealed as provided in this act [6-12-6 to 6-12-14 NMSA 1978], and coupons thereto attached, when sold, shall constitute a valid and binding obligation upon the state of New Mexico, although the sale thereof be made at a date or dates after the persons so signing, countersigning and endorsing same shall have ceased to be the incumbents of their respective offices. History: Laws 1935, ch. 4, § 5; 1941 Comp., § 7-510; 1953 Comp., § 11-5-10. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
NM Stat § 6-12-11 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12 - State Indebtedness|Section 6-12-11 - [Exchange for bonds to be refunded; sale; disposition of proceeds.]

All such refunding bonds may be exchanged dollar for dollar for the bonds to be refunded, or they may be sold as directed by the state board of finance, and the proceeds thereof shall be applied only to the purpose for which said refunding bonds were issued. When refunding bonds are sold the proceeds shall be deposited in the proper sinking fund, and the state treasurer shall immediately transfer the same to the bank in the city of New York, state of New York, designated as paying agent of the issue maturing or called for redemption prior to maturity, to be held by such bank and to be applied solely to the payment of the principal of and matured interest upon the bonds maturing or called for payment prior to maturity; provided, that any such funds remaining in the bank in the city of New York, state of New York, named as paying agent, at the expiration of two years from the date fixed by the call as date of payment of said bonds shall be returned to the state treasurer and by him held in a special fund for such purposes. History: Laws 1935, ch. 4, § 6; 1941 Comp., § 7-511; 1953 Comp., § 11-5-11. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
NM Stat § 6-12-12 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 12 - State Indebtedness|Section 6-12-12 - [Irrepealable contract; irregularities and defects waived; tax exemption.]

The provisions of this act [6-12-6 to 6-12-14 NMSA 1978] shall constitute an irrepealable contract with the holders of any of the bonds and coupons issued pursuant to this act, for the faithful performance of which the full faith and credit of the state of New Mexico is hereby pledged. The bonds issued under this act and the coupons thereto attached shall have all the qualities of negotiable paper under the Uniform Commercial Code [Chapter 55 NMSA 1978], except that bonds, with attached coupons, issued prior to the passage of that code shall have the qualities of negotiable paper under the existing law at the time of issue. Bonds issued under this act and the attached coupons shall not be invalid for any irregularity or defect in the proceedings for the issue and sale thereof, and shall be incontestable in the hands of bona fide purchasers or holders thereof for value. All bonds issued under the provisions of this act shall be exempt from taxation. History: Laws 1935, ch. 4, § 7; 1941 Comp., § 7-512; 1953 Comp., § 11-5-12; Laws 1961, ch. 96, § 11-102. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.