A. If the secretary of finance and administration draws any warrant on the state treasurer when he knows or, with the use of available accounting information, should reasonably know there is an insufficient unexpended and unencumbered balance available for the purpose for which the warrant is drawn, he is in violation of this section unless the warrant will be redeemed using receivables accrued for that fiscal year pursuant to policies of the department of finance and administration.
B. If the state treasurer pays any warrant when he knows or, with the use of available accounting information, should reasonably know there are insufficient funds available in the treasury for the purpose to pay the warrant, he is in violation of this section unless the warrant will be redeemed using receivables accrued for that fiscal year pursuant to policies of the department of finance and administration.
C. A violation of this section is punishable by a fine of not more than one thousand dollars ($1,000) or by imprisonment for not more than one year or both.
History: 1978 Comp., § 8-6-7, enacted by Laws 1987, ch. 183, § 1; 1993, ch. 105, § 4; 2003, ch. 273, § 16.
ANNOTATIONSRepeals and reenactments. — Laws 1987, ch. 183, § 1 repealed former 8-6-7 NMSA 1978, as amended by Laws 1977, ch. 247, § 15, and enacted a new section, effective June 19, 1987.
The 2003 amendment, effective July 1, 2003, in Subsection A, substituted "is" for "shall be" following "is drawn, he", inserted "unless the warrant will be redeemed using receivables accrued for that fiscal year pursuant to policies of the department of finance and administration" at the end; in Subsection B, substituted "is" for "shall be" following "the warrant, he", substituted "will be redeemed using receivables accrued for that fiscal year pursuant to policies of the department of finance and administration" for "includes federal funds that will be receipted based upon established warrant-clearing patterns" at the end; in Subsection C, substituted "is" for "shall be" following "of this section", and substituted "or both" for "by both such fine and imprisonment in the discretion of the judge" at the end.
The 1993 amendment, effective June 18, 1993, added the language beginning "unless" at the end of Subsection B.
Generally. — If the auditor of the territory (now secretary of finance and administration) drew any warrant on the treasurer of the territory when there was no money in the treasury in the particular fund for which such warrant was drawn, he was liable to fine of not less than $1,000 and imprisonment for not less than one year and summary removal from office by the governor. Garcia v. Territory ex rel. Bursum, 1900-NMSC-006, 10 N.M. 43, 61 P. 207.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 81A C.J.S. States § 129.