New Mexico § 12-1-14 - Proceeds from sale of debentures
Full text of New Mexico New Mexico Statutes Annotated § 12-1-14 — Proceeds from sale of debentures, with citation guidance and answers to common questions.
§ 12-1-14. Proceeds from sale of debentures
The proceeds of the sale of said debentures shall be placed to the credit of the New
Mexico compilation fund, except such amount as may have been paid as accrued interest,
which amount shall be credited to a special interest fund for payment of interest
on such debentures. The expenses incurred by the state treasurer in the preparation and sale of said
debentures shall be paid out of said compilation fund. The proceeds from said debentures shall be used exclusively for the purposes for
which said indebtedness is authorized and shall be paid out on warrants drawn by the
secretary of finance and administration supported by vouchers of the New Mexico compilation
commission. The state treasurer shall keep separate accounts for all moneys collected from the
taxes or fees hereby imposed for the payment of the interest and to provide a sinking
fund for said debentures respectively, and may from time to time invest the moneys
in said sinking fund in any bonds or other securities issued by the United States
of America or the state of New Mexico at their market value, provided, such bonds
or other securities will mature before the maturity date of the debentures for which
the sinking fund is created.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 12-1-14
What does New Mexico Statutes Annotated § 12-1-14 cover?
Section 12-1-14 ("Proceeds from sale of debentures") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 12-1-14?
A common citation format is "New Mexico Statutes Annotated § 12-1-14" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 12-1-14 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.