New Mexico § 20-1-6 - Payments by state treasurer; certificates of indebtedness

§ 20-1-6. Payments by state treasurer; certificates of indebtedness

A. All compensation of personnel and all the necessary expenses incurred in quartering,

housing, caring for, subsisting, protecting, equipping, warning for duty and transporting

such officers and members and their equipment, including the purchase or lease of

any articles of material, equipment or supplies reasonably required, designed or needed

to accomplish the purpose or results desired by the governor or specified in the governor's

call for such troops into service of the state, shall be paid by the state. The state treasurer, upon presentation to the state treasurer of vouchers and payrolls

for such compensation, expenses, supplies and materials, certified by the officers

commanding such forces and approved by the adjutant general, shall pay the vouchers

and payrolls out of any money available in the state treasury not otherwise appropriated;

provided that the vouchers and payrolls for such service, supplies and materials do

not exceed one million dollars ($1,000,000) in any one fiscal year. B. If there is no money available in the state treasury that is not otherwise appropriated

or if the vouchers and payrolls for such service, material and supplies approach the

amount of one million dollars ($1,000,000) in any one fiscal year, the state treasurer

shall certify such facts to the governor who shall inquire into and make an estimate

of the total probable cost necessary to be incurred for all purposes in connection

with or to accomplish the purpose for which such troops were called into active service. If the governor deems it necessary and prudent in order to provide for the public

defense that such expenses be incurred and that it is necessary to create an indebtedness

for the purpose of paying the expenses, the governor shall by proclamation declare

an emergency to exist requiring the creation of an indebtedness under Article 9, Section 7 of the constitution of New Mexico in order to suppress insurrection or to provide for the public defense. The governor shall order the issuance of certificates of indebtedness in such amount

as the governor deems required or necessary to provide funds for the payment of expenses

and costs incident to or connected with the emergency. C. The certificates of indebtedness shall be approved as to form by the attorney general. They shall be dated the day of their issuance and the state board of finance shall

by proper resolutions prescribe the denominations of the certificates, the maturity

dates thereof, the rate of interest they shall bear payable semiannually, the time

and place of payment of both principal and interest and the amount of the certificates

that shall be issued from time to time. The certificates shall be signed by the secretary of the state board of finance

and the state treasurer and the coupons attached thereto shall have the engraved lithographed

facsimile of the signature of the state treasurer thereon; provided, however, that

certificates purchased by the state treasurer may be issued without coupons. The certificates shall be sold by the state board of finance from time to time in

such amounts as it deems advisable, at not less than par and accrued interest to date

of delivery, after advertisement for a period of two weeks immediately prior to the

sale in one daily newspaper in the state and in some financial journal in the city

and state of New York; provided, however, that the state treasurer may purchase the

certificates as an investment of any funds in the state treasurer's hands available

for investment and in the event of any such purchase by the state treasurer, no advertisement

shall be required. The proceeds of certificates so sold shall be by the state treasurer covered into

a fund known as the “adjutant general emergency public defense fund” and shall be

expended and disbursed only in the manner and for the purposes specified and provided

for in Chapter 20, Article 1 NMSA 1978 . D. A fund to be known as the “adjutant general emergency public defense certificates

fund” to provide for the payment of interest and principal on the foregoing certificates

is established and, beginning with the tax levy for the year following the issuance

of the certificates, a tax shall be levied annually in the same manner as other ad

valorem taxes are levied on all taxable property in the state, not to exceed one-half

mill on the dollar of valuation, sufficient to produce the amount required to pay

interest on the certificates and the principal thereof at maturity, for each year

prior to the maturity of the certificates, which taxes when collected shall be credited

to the adjutant general emergency public defense certificates fund. The state auditor shall each year prior to August 1 certify to the property tax

division of the taxation and revenue department the amount necessary to meet all payments

of principal and interest due on the certificates during the year ending June 30 following

the date of the certificates. E. On or before the twentieth legislative day of the next legislative session following

the expenditures of the sums provided for in this section, the governor shall file

a written report with the presiding officer of each house of the legislature setting

forth the purpose and the amounts of money expended as provided in this section. F. The provisions of this section may be used for the operation of the national guard

or the state defense force when on militia duty.