In the event of a deficiency in the state general fund, upon prior approval by the state board of finance there shall be issued certificates of indebtedness of the state of New Mexico. These certificates shall be issued in an amount as may be required but not in excess of the constitutional limitation; such certificates shall be in the form prescribed by the attorney general of the state.
§ 6-10-5 NMSA 1978
General fund deficiency; certificates of indebtedness
Known as the Warrant Cancellation Act
The act spans §§ 6–6 (74 sections).
1953 Comp., § 11-2-3.3, enacted by Laws 1963, ch. 36, § 1.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.