There is a newer version of the New Mexico Statutes
2011 New Mexico Statutes
Chapter 13: Public Purchases and Property
Article 1A: Purchasing Discounts, 13-1A-1 through 13-1A-4
Section 13-1A-2: Purpose.
NM Stat § 13-1A-2 (1996 through 1st Sess 50th Legis) What's This?
13-1A-2. Purpose.
The purpose of the Purchasing Discount Act [13-1A-1 NMSA 1978] is to effect certain economies in the operation of state government by requiring state agencies to establish bookkeeping and administrative procedures to accelerate payments to vendors for supplies and equipment so as to secure price discounts offered by such vendors for early payment of accounts.
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