[Income from investment of permanent fund derived from trust land sales pledged to repay building and improvement bonds.]

  1. Law
  2. New Mexico Statutes
  3. State and Private Education Institutions
  4. University of New Mexico
  5. [Income from investment of permanent fund derived from trust land sales pledged to repay building and improvement bonds.]

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That from and after the passage and approval of this act [21-7-13, 21-7-14, 21-7-16 to 21-7-25 NMSA 1978], all permanent funds thereafter derived from the sale or disposition of the lands held in trust for said university, shall be invested in bonds of the United States or of the state of New Mexico, the income from which shall likewise form a part of the pledged income for the payment of the principal and interest of said bonds issued by said board.

History: Laws 1927, ch. 47, § 8; C.S. 1929, § 130-920; 1941 Comp., § 55-2420; 1953 Comp., § 73-25-20.

ANNOTATIONS

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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