2025 New Mexico Statutes
Chapter 21 - State and Private Education Institutions
Article 3 - Certain State Post-Secondary Schools
Section 21-3-20 - [Income of permanent land funds of New Mexico highlands university pledged.]

That from and after the passage and approval of this act [21-3-13, 21-3-14, 21-3-16 to 21-3-28 NMSA 1978], all permanent funds thereafter derived from the sale or disposition of the lands held in trust for New Mexico normal university [New Mexico highlands university] shall be invested in the same manner as other permanent funds of the state of New Mexico are authorized to be invested, the income from which shall likewise form a part of the pledged income for the payment of principal and interest of bonds issued by the board of regents of the New Mexico normal university [New Mexico highlands university] under the provisions of this act.

History: Laws 1941, ch. 208, § 8; 1941 Comp., § 55-2122; 1953 Comp., § 73-22-22.

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

N.M. Const., art. XII, § 11, as repealed and reenacted on November 8, 1960, changed the name of the New Mexico normal school to the New Mexico western college, which was again changed by constitutional amendment of November 3, 1964, to western New Mexico university. See 21-3-3 NMSA 1978. That constitutional provision also changed the name of New Mexico normal university to New Mexico highlands university. See 21-3-2 NMSA 1978.

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.