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2019 New Mexico Statutes
Chapter 21 - State and Private Education Institutions
Article 3 - Certain State Post-Secondary Schools
Section 21-3-25 - [Restrictions on use of New Mexico highlands university bond proceeds.]
Universal Citation: NM Stat § 21-3-25 (2019)
That none of the funds derived from the sale of bonds issued under the provisions of this act [21-3-13, 21-3-14, 21-3-16 to 21-3-28 NMSA 1978], except so much thereof as shall be necessary to defray the costs of the issuance thereof and the accrued interest from the date thereof to the time of delivery, shall ever be used or expended for any purpose other than those for which authority to issue the same by this act is given.
History: Laws 1941, ch. 208, § 13; 1941 Comp., § 55-2127; 1953 Comp., § 73-22-27.
ANNOTATIONSBracketed 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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