N.M. Stat. § 6-21-16
Bond anticipation notes.
The authority is authorized to issue negotiable bond anticipation notes and may
renew the same from time to time, but the maximum maturity of such notes, including
renewals of such notes, shall not exceed ten years from the date of issue of the original
notes. The notes shall be payable from any money of the authority available for them
and not otherwise pledged from loans to or securities issued by a qualified entity or from
the proceeds of sale of the bonds of the authority, the state or a qualified entity in
anticipation of which such notes were issued. The notes may be issued for any purpose
of the authority. All such notes shall be issued and secured and shall be subject to the
provisions of the New Mexico Finance Authority Act in the same manner and to the
same extent as bonds issued pursuant to the New Mexico Finance Authority Act.