In the event the board of regents aforesaid should find it advisable to issue bonds under this act [21-8-15, 21-8-16, 21-8-18 to 21-8-26 NMSA 1978] in more than one series, or at different times, for any of the purposes aforesaid, then each series of said bonds shall be designated by the letter "A," "B" or in some other proper designation to the end that each series shall be kept separate, and all of the requirements of this act shall apply to and be faithfully followed, done and carried out as to each of said series, provided, however, that said board of regents shall not have power to issue bonds hereunder, the aggregate interest and principal requirements for which, for any year, together with the aggregate interest and principal requirements for all outstanding bonds of such board of such institution for such year, shall exceed the amount of the income from the permanent funds and from the aforesaid income and current fund of such institution received by the state treasurer for the fiscal year next preceding the fiscal year in which any bonds of such board of such institution are authorized to be issued by resolution of the board adopted pursuant to this act.
History: Laws 1929, ch. 40, § 12; C.S. 1929, § 130-1025; Laws 1937, ch. 225, § 3; 1941 Comp., § 55-2524; 1953 Comp., § 73-26-24.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Compiler's notes. — The words "this act," at the end of the section, would mean by strict interpretation the sections of Laws 1937, ch. 225, by which they were inserted, compiled as 21-8-15, 21-8-16, 21-8-25 NMSA 1978. However, reference was apparently intended to apply to the whole of the original 1929 act as amended.
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.
Structure 2021 New Mexico Statutes
Chapter 21 - State and Private Education Institutions
Article 8 - New Mexico State University
Section 21-8-1 - [Objects; admission; rules and regulations.]
Section 21-8-2 - [Construction of other names for college used in statutes.]
Section 21-8-5 - [Powers and duties of board of regents.]
Section 21-8-6 - [Rules; calling meetings of board of regents.]
Section 21-8-7 - [Course of instruction; books; diplomas and degrees; removal of officers.]
Section 21-8-9 - [Agricultural experiment station; direction; federal benefits.]
Section 21-8-10 - [Contracts for acceptance and administration of funds.]
Section 21-8-11 - [Acceptance of congressional grant of 1887 for experiment station.]
Section 21-8-12 - [Acceptance of Adams Act grant for experiment station.]
Section 21-8-13 - [Acceptance of Purnell Act grant for experiment station.]
Section 21-8-14 - [Acceptance of congressional grant of 1890 for New Mexico state university.]
Section 21-8-15 - Authorized to borrow money.
Section 21-8-16 - Board may issue building and improvement bonds.
Section 21-8-17 - Form and conditions of bonds.
Section 21-8-21 - [Income pledged to pay building and improvement bonds.]
Section 21-8-22 - [Payment of interest and principal of building and improvement bonds.]
Section 21-8-23 - [Use of proceeds of building and improvement bonds restricted.]
Section 21-8-24 - [State treasurer's payments relating to building and improvement bonds.]
Section 21-8-25 - [Issuance of building and improvement bonds in series; restrictions.]
Section 21-8-26 - [Bonds exempt from taxation.]
Section 21-8-27 - [Board constituted custodian for grave of Eugene Manlove Rhodes.]
Section 21-8-28 - Building materials research and testing institute established.
Section 21-8-29 - Function of testing institute.
Section 21-8-32 - Institute not conducted for gain.
Section 21-8-33 - Use of services.
Section 21-8-34 - Fees for services.
Section 21-8-35 - Center for broadcasting and international communications established.
Section 21-8-36 - Activities of center.
Section 21-8-38 - International business facilitation center established; duties.
Section 21-8-39 - Waste management education and research consortium created; purpose.
Section 21-8-40 - Water resources research institute created; purpose.
Section 21-8-41 - College assistance migrant program.
Section 21-8-42 - Regional educational technology assistance center created.
Section 21-8-43 - Alliance for underrepresented students created; purpose.
Section 21-8-44 - Public-private partnership for university campus in San Luis Potosi, Mexico.