§ 30-02-010. Allowed investment instruments.

[Allowed investment instruments are:]

(a)

U.S. Treasury obligations.

(b)

U.S. Government agency and instrumentality obligations.

(c)

Bonds or negotiable securities of the State of New Mexico or of any county, municipality, or school district within the state which has a taxable valuation of real property for the last preceding year of at least one million dollars ($1,000,000.00) and which has neither defaulted in the payment of any interest or sinking fund obligation, nor failed to meet any bonds at maturity at any time within five (5) years last preceding.

(d)

Time deposits in banks and savings and loan associations.

(e)

Interest bearing checking accounts in banks and savings and loan associations.

(f)

Passbook savings accounts.

(g)

Banker's acceptances.

(h)

Money market funds whose portfolios consist of the foregoing.

(i)

Commercial paper.

(Ord. No. 722, 10-13-87)