N.M. Stat. § 6-21C-4
New Mexico finance authority shall issue building bonds;
appropriation of proceeds.
A. The New Mexico finance authority is authorized to issue and sell revenue bonds,
known as "state office building tax revenue bonds", payable solely from the state
building bonding fund, in compliance with the State Building Bonding Act for the
purpose of acquiring state office buildings and related facilities and other critical state
facilities within the master planning jurisdiction of the capitol buildings planning
commission when the acquisition has been reviewed by the capitol buildings planning
commission and has been authorized by legislative act and the director of the facilities
management division of the general services department has certified the need for the
issuance of the bonds; provided that the total amount of state office building tax revenue
bonds outstanding at any one time shall not exceed one hundred fifteen million dollars
($115,000,000).
B. The net proceeds from the building bonds are appropriated to the facilities
management division of the general services department for the purpose of acquiring
state office buildings and related facilities and other critical state facilities within the
master planning jurisdiction of the capitol buildings planning commission, the acquisition
of which shall be consistent with the State Building Bonding Act and the authorizing
legislation.