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2018 New Mexico Statutes
Chapter 21 - State and Private Education Institutions
Article 8 - New Mexico State University
Section 21-8-23 - Use of proceeds of building and improvement bonds restricted.]
Universal Citation: NM Stat § 21-8-23 (2018)
21-8-23. Use of proceeds of building and improvement bonds restricted.]
None of the funds derived from the sale of said bonds, except so much thereof as shall be necessary to defray the cost of the issuance thereof and the accrued interest from the date thereof to the time of delivery, shall ever be used or expended by said board for any other purposes than those for which authority is herein given to issue the same, as set forth in Section 1 [21-8-15 NMSA 1978] hereof.
History: Laws 1929, ch. 40, § 10; C.S. 1929, § 130-1023; 1941 Comp., § 55-2522; 1953 Comp., § 73-26-22.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Colleges and Universities § 35.
14A C.J.S. Colleges and Universities § 14.
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