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2021 New Mexico Statutes
Chapter 21 - State and Private Education Institutions
Article 8 - New Mexico State University
Section 21-8-24 - [State treasurer's payments relating to building and improvement bonds.]

Universal Citation: NM Stat § 21-8-24 (2021)
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It is hereby made the duty of the treasurer of this state, upon receiving written notice from the secretary and treasurer of said board that it has issued bonds as provided for herein, to forthwith forward and pay over to the secretary and treasurer of said board out of the income from the permanent funds of said college [New Mexico state university], a sum sufficient to make and establish the income [interest] and retirement fund, as herein provided, and annually thereafter to pay over a sufficient amount for said purpose, to the end that said interest and retirement fund shall at all times be kept in the proper amount. In the event there should not be sufficient undistributed income from permanent funds of said college [university], then said state treasurer shall use so much of the income and current fund of said college [university] in his hands as shall be necessary to establish and at all times maintain said interest and retirement fund.

History: Laws 1929, ch. 40, § 11; C.S. 1929, § 130-1024; 1941 Comp., § 55-2523; 1953 Comp., § 73-26-23.

ANNOTATIONS

Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.

The bracketed word "interest" in the first sentence was inserted by the compiler to correspond to 21-8-20 to 21-8-22 NMSA 1978 and the subsequent reference in this section.

Laws 1889, ch. 138, § 2, created and established the agricultural college and agricultural experiment station of New Mexico, as an institution of learning. Laws 1893, ch. 61, § 24, changed the name of the agricultural college and agricultural (experiment) station of New Mexico to the New Mexico college of agriculture and mechanic arts. Article XII, Section 11, of the constitution of New Mexico, as repealed and reenacted November 8, 1960, further changed the name to the New Mexico state university. See also 21-8-2 NMSA 1978.

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