It is the duty of the local government division of the department of finance and administration or the public education department, upon the receipt of the notice mentioned in Section 6-15-1 NMSA 1978, to furnish the governing authorities with all necessary information with reference to the valuation, present outstanding bonded indebtedness, limitations as to tax rates and debt contracting power and other information as may be useful to the governing authorities and to the voters of the county, municipality or school district in the consideration of any proposal to issue bonds. Upon the adoption of a bond issue as provided by law by a county, municipality or school district, the governing authorities shall prepare a true and complete transcript of proceedings and three exact copies of the transcript of the proceedings had in connection with the bond issue. One copy of the transcript of the proceedings shall be immediately filed with the local government division or the department, one kept by the governing authorities and one copy to be furnished to the officer approving the bond issue as to its legality as provided by law. History: Laws 1925, ch. 131, § 2; C.S. 1929, § 33-3802; 1941 Comp., § 7-615; 1953 Comp., § 11-6-14; 1959, ch. 127, § 2; 1978 Comp., § 6-15-2; 2024, ch. 10, § 1. The 2024 amendment, effective July 1, 2024, amended an existing provision requiring the local government division of the department of finance and administration to furnish information to the governing authorities regarding bonded indebtedness to also require the public education department to furnish such information upon the receipt of notice; in the section heading, deleted "or public school finance division" and added "or public education department"; after "It" deleted "shall be" and added "is", after "local government division" deleted "or public school finance division", after "department of finance and administration" added "or the public education department", deleted "city, town, village" and added "municipality", throughout the section, and after "local government division or" deleted "public school finance division of the department of finance and administration" and added "the department". No authority to limit proceeds to advertising. — There is no authority in this section or related statutes which authorizes the state tax commission to limit proceeds of a fair bond sale to advertising purposes only. 1958 Op. Att'y Gen. No. 58-47 (rendered prior to 1959 amendment).
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