New Mexico Appendix: 2026 Undesignated Legislative Enactments § *-*-*. Sale

The bonds authorized under the 2026 Capital Projects General Obligation Bond Act shall be sold by the state board of finance at such time and in such manner and amounts as the board may elect.  The bonds may be sold at private sale or at public sale, in either case at not less than par plus accrued interest to the date of delivery.  If sold at public sale, the state board of finance shall publish a notice of the time and place of sale in a newspaper of general circulation in the state and may also publish the notice in a recognized financial journal outside the state.  The required publications shall be made once each week for two consecutive weeks prior to the date fixed for the sale, the last publication to be at least five days prior to the date of the sale.  The notice shall specify the amount, denomination, maturity and description of the bonds to be offered for sale and the place, date and hour at which the sealed bids shall be received.  At the time and place specified in the notice, the state board of finance shall open the bids in public and shall award the bonds to the bidder or bidders offering the best price for the bonds.  The state board of finance may reject any or all bids and readvertise and may waive any irregularity in a bid.  Except for the bid of the state, the successful bidder shall make a deposit of two percent of the principal amount of the bonds in a form acceptable to the state board of finance no later than the close of business of the day the state board of finance notifies the successful bidder that the bid has been accepted.  The state board of finance may also sell the bonds or any part of the bonds to the state treasurer or state investment officer.  The state treasurer or state investment officer is authorized to purchase any of the bonds for investment.  The bonds are legal investments for any person or board charged with the investment of any public funds and may be accepted as security for any deposit of public money.