N.M. Stat. § 6-13-17
[Issuance and sale of bonds; approval of state board of
finance.]
That no bonds shall be finally issued and sold under the provisions of this act [6-13-1
to 6-13-26 NMSA 1978] until the approval of such issue shall have been had by the
unanimous vote of the state board of finance in a regular or called meeting.