New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 60 - INVESTMENT AND DEPOSIT OF PUBLIC FUNDS
Part 27 - INVESTMENT POLICY AND GUIDELINES ON PARTICIPATION LOANS SECTION 7-25-5.1 MARKET RATE INVESTMENTS
Section 2.60.27.3 - STATUTORY AUTHORITY

Pursuant to Section 7-27-5.1 A NMSA 1978 Subparagraph 10, the severance tax permanent fund may be invested in participation interests in New Mexico real property-related business loans if the proceeds of such loans will be or are being used by the borrower to either commence or expand operations in New Mexico. The loans purchased may be in amounts from five hundred thousand to two million dollars. The minimum loan amount may be met by the packaging of up to five separate loans which otherwise meet the requirements of the program.