That the board of regents issuing said bonds, shall, at the time of issuing said bonds, establish for the payment of the principal and interest thereof a fund to be known as "interest and retirement fund" into which fund said board shall immediately place a sum not less than the amount necessary to pay the interest and maturing principal of said bonds for the ensuing twelve months, and annually thereafter shall continue to place in said fund a sufficient amount to pay principal and interest maturing in the succeeding twelve months.
History: Laws 1941, ch. 208, § 6; 1941 Comp., § 55-2120; 1953 Comp., § 73-22-20.
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. — 64 Am. Jur. 2d Public Securities and Obligations § 266.
Structure 2021 New Mexico Statutes
Chapter 21 - State and Private Education Institutions
Article 3 - Certain State Post-Secondary Schools
Section 21-3-1 - [Names of Las Vegas and Silver City schools.]
Section 21-3-2 - [Use of name "New Mexico highlands university" authorized.]
Section 21-3-3 - Use of name "western New Mexico university" authorized; exceptions.
Section 21-3-4 - [Boards of regents; appointment and qualifications of members; corporate powers.]
Section 21-3-5 - [Election of officers; bond of secretary-treasurer.]
Section 21-3-6 - [Meeting of boards of regents; quorum.]
Section 21-3-8 - [Duties of board officers.]
Section 21-3-10 - [New Mexico highlands university to be nonsectarian.]
Section 21-3-11 - [Acquisition of land for New Mexico highlands university.]
Section 21-3-12 - [Right of eminent domain by New Mexico highlands university regents unaffected.]
Section 21-3-14 - [Resolution of New Mexico highlands university regents.]
Section 21-3-15 - Bonds; form; conditions.
Section 21-3-19 - [Protection of interest and retirement fund of New Mexico highlands university.]
Section 21-3-20 - [Income of permanent land funds of New Mexico highlands university pledged.]
Section 21-3-21 - [Interest payments for New Mexico highlands university bonds.]
Section 21-3-23 - [Series of New Mexico highlands university bonds; restrictions.]
Section 21-3-24 - [Tax exemption of New Mexico highlands university bonds.]
Section 21-3-25 - [Restrictions on use of New Mexico highlands university bond proceeds.]
Section 21-3-26 - [State board of finance approval of New Mexico highlands university bonds.]
Section 21-3-27 - [Lien of New Mexico highlands university bonds.]
Section 21-3-28 - [Refunding bonds issued by New Mexico highlands university.]
Section 21-3-29 - [Eastern New Mexico university; establishment.]
Section 21-3-31 - [Use of name "eastern New Mexico university" authorized; exceptions.]