2015 New Mexico Statutes
Chapter 6 - Public Finances
Section 13 Institution Bonds
Section 6-13-10 Permanent funds from disposition of lands held in trust for state institutions; investment.
6-13-10. [Permanent funds from disposition of lands held in trust for state institutions; investment.]
That from and after the passage and approval of this act [6-13-1 through 6-13-26 NMSA 1978], all permanent funds thereafter derived from the sale or disposition of the lands held in trust for any of said institutions shall be invested in bonds of the United States or of the state of New Mexico, the income from which shall likewise form a part of the pledged income for the payment of the principal and interest on bonds issued by the board of any such institution under the provisions of this act.
History: 1941 Comp., 6-262, enacted by Laws 1949, ch. 121, 9; 1953 Comp., 11-9-10, compiled by Laws 1963, ch. 298, 2.
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