The historic preservation division shall encourage and promote publications relating to cultural properties that have been prepared pursuant to the Cultural Properties Act [18-6-1 to 18-6-17 NMSA 1978]. The historic preservation division may prepare or contract for the preparation of such publications on the condition that it receives from the sale of the publications the amount expended plus interest on that amount compounded annually at the prime lending rate quoted in the Wall Street Journal on the effective date of the contract until the expended amount is reimbursed in full to the division. All receipts from such sales shall go into a special revolving fund, which is hereby established. The historic preservation division shall adopt rules establishing guidelines and fiscal controls over the use of the revolving fund.
History: 1953 Comp., § 4-27-17, enacted by Laws 1978, ch. 53, § 1; 1980, ch. 151, § 38; 1983, ch. 296, § 20; 1994, ch. 70, § 1; 2004, ch. 25, § 32.
ANNOTATIONSRepeals and reenactments. — Laws 1978, ch. 53, § 1, repealed former 4-27-17, 1953 Comp., relating to preparation and sale of cultural properties publications, revolving fund and report, and enacted a new 4-27-17, 1953 Comp.
The 2004 amendment, effective May 19, 2004, deleted the reference to the office of cultural affairs.
The 1994 amendment, effective May 18, 1994, deleted "duties of the committee under the" following "pursuant to the" in the first sentence, substituted "historic preservation division" for "committee" in the second sentence, substituted the language beginning "interest on that" for "ten percent" at the end of the second sentence, deleted "and shall annually report to the legislative finance committee on or before June 30 the fund's receipts, disbursements and unencumbered balance, together with a detailed statement of the expenditures" from the end of the last sentence, and made a minor stylistic change.