There is a newer version of the New Mexico Statutes
2013 New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 24 - Industrial and Agricultural Finance Authority
Section 58-24-9 - Required determinations of the authority. (1983)
NM Stat § 58-24-9 (2013) What's This?
58-24-9. Required determinations of the authority. (1983)
The authority may not issue bonds until the board has determined that:
A. the funds available in the private banking system in the state for project loans are inadequate to meet the demand; and
B. the issuance of the bonds will alleviate such inadequacy.
History: Laws 1983, ch. 300, § 9.
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