N.M. Stat. § 21-3-26
[State board of finance approval of New Mexico highlands
university bonds.]
That no bonds shall be finally issued and sold under the provisions of this act [21-3-
13, 21-3-14, 21-3-16 to 21-3-28 NMSA 1978] until the approval of such issue shall have
been had by the majority vote of the state board of finance in a regular or called
meeting.