The board shall cause to be kept separate and complete records of all income and revenues from the building, facility or improvements and the use thereof and services rendered therewith; and all of the operating and maintenance expenses thereof, and none of said income and revenues shall be expended except to pay the reasonable operating and maintenance expenses as hereinbefore provided, and to pay principal and interest on bonds issued under the authority of this act [6-17-1 to 6-17-13 NMSA 1978, except 6-17-1.1 NMSA 1978].
History: Laws 1939, ch. 177, § 7; 1941 Comp., § 55-2707; Laws 1947, ch. 143, § 7; 1949, ch. 98, § 6; 1953 Comp., § 73-29-8.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Section 6-17-1.1 NMSA 1978 is apparently not encompassed within "this act", since Laws 1989, ch. 182, § 1 enacted that section separately.
Structure 2021 New Mexico Statutes
Article 17 - Finances of State Educational Institutions
Section 6-17-1 - Income-producing buildings and improvements; authority to borrow funds.
Section 6-17-1.1 - Definitions.
Section 6-17-2 - Resolution for issuance of bonds for income-producing projects.
Section 6-17-3 - Conditions of income-producing project bonds.
Section 6-17-4 - Determination of charges relating to income-producing projects.
Section 6-17-5 - Determination of charges relating to income-producing projects.
Section 6-17-8 - Records and expenditures for income-producing projects.
Section 6-17-10 - [Tax exemption of income-producing project bonds.]
Section 6-17-11 - Security for income-producing bonds; rules and regulations.
Section 6-17-12 - Debt against state not to be created by income-producing project bonds.
Section 6-17-13 - [Institutional bond statutes not affected by income-producing bond law.]
Section 6-17-14 - Pledge of additional revenue.
Section 6-17-15 - Refunding bonds; convertibility.
Section 6-17-16 - [Validation.]
Section 6-17-17 - Refunding bonds.