Subject to the approval of the state investment council, the severance tax permanent fund may be invested in revenue bonds issued by the New Mexico finance authority for state capitol buildings and relocation-associated renovations in the state capitol. The amount invested shall not exceed ten million one hundred fifty-five thousand dollars ($10,155,000).
§ 7-27-5.24 NMSA 1978
Severance tax permanent fund; investment in obligations issued for state capitol buildings and renovations
Known as the Severance Tax Bonding Act
The act spans §§ 7–7 (92 sections).
1978 Comp., § 7-27-5.24, enacted by Laws 1997, ch. 178, § 3.
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.