The board of regents 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 1927, ch. 47, § 6; C.S. 1929, § 130-918; 1941 Comp., § 55-2418; 1953 Comp., § 73-25-18.
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 7 - University of New Mexico
Section 21-7-1 - [Established as the state university; congressional benefits vested.]
Section 21-7-3 - Board of regents.
Section 21-7-4 - [Corporate powers of board.]
Section 21-7-6 - President; secretary and treasurer; duties and powers.
Section 21-7-7 - Board of regents; rules and regulations.
Section 21-7-8 - [Departmental organization.]
Section 21-7-9.1 - Purpose [of Spanish resource center.]
Section 21-7-9.2 - El centro de la raza created; purpose.
Section 21-7-10 - [Admission of students; rules and regulations.]
Section 21-7-11 - [Sectarianism prohibited.]
Section 21-7-12 - [Meetings of board of regents; quorum.]
Section 21-7-13 - [Building and improvement bonds; purposes; authority of board of regents.]
Section 21-7-14 - [Resolution for issuance of building and improvement bonds.]
Section 21-7-15 - Form and conditions of bonds.
Section 21-7-17 - [Disposition of proceeds of building and improvement bond sales.]
Section 21-7-19 - [Income pledged for redemption of building and improvement bonds.]
Section 21-7-21 - [Payment of principal and interest on building and improvement bonds.]
Section 21-7-22 - [Restrictions on use of building and improvement bond proceeds.]
Section 21-7-23 - [Payments by state treasurer relating to building and improvement bonds.]
Section 21-7-24 - [Issuance of building and improvement bonds in series; restrictions.]
Section 21-7-25 - [Tax exemption of building and improvement bonds.]
Section 21-7-26 - Temporary provision; medical residency programs; state cooperation.
Section 21-7-28 - Creation of the Taos branch community college of the university of New Mexico.
Section 21-7-29 - Rio Rancho campus for the university of New Mexico and other institutions.
Section 21-7-30 - State digital geospatial data clearinghouse designated; powers and duties.
Section 21-7-31 - Stephen Easley center for telehealth.
Section 21-7-32 - Off-campus instructional center for university of New Mexico in Valencia county.