Section 15. Investments

A. The school district shall account for public money placed in interest-bearing deposits in accordance with Sections 22-8-40(C) through (G), NMSA 1978; Section 6-10-17, NMSA 1978; Section 6-10-31, NMSA 1978, and other federal and state laws applicable to the investment of public school money. B. Pledged collateral: School districts shall require pledged collateral for all cash and investments in accordance with Section 22-8-40, NMSA 1978.