N.M. Stat. § 6-10-13
[Limitation on investment of special road fund.]
Investments mentioned in Section one [6-10-12 NMSA 1978] of this act shall not be
made until after funds due the highway department for expenses incurred against such
balance, are deducted nor shall such investments be made if the balance in such fund
is to be expended by the state highway department within one year from the date that
investment may be made.