Whenever the said board, by the affirmative vote of a majority of its members, duly entered in the minutes of said board, shall by resolution determine that it is necessary to erect, alter, improve, furnish or equip any building or buildings at said college [university], or acquire any land for the use thereof, or both, or to retire the whole or any part of any series of bonds previously issued in conformity with the provisions of this act [21-8-15, 21-8-16, 21-8-18 to 21-8-26 NMSA 1978], or to refund the same, or for either of said purposes, the board of regents of the New Mexico college of agriculture and mechanic arts [New Mexico state university] is hereby empowered and authorized to issue and sell, subject to the terms of this act, building and improvement bonds of the New Mexico college of agriculture and mechanic arts [university].
History: Laws 1929, ch. 40, § 2; C.S. 1929, § 130-1015; Laws 1937, ch. 225, § 2; 1941 Comp., § 55-2515; 1953 Comp., § 73-26-15.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Laws 1889, ch. 138, § 2, created and established the agricultural college and agricultural experiment station of New Mexico, as an institution of learning. Laws 1893, ch. 61, § 24, changed the name of the agricultural college and agricultural (experiment) station of New Mexico to the New Mexico college of agriculture and mechanic arts. Article XII, Section 11, of the constitution of New Mexico, as repealed and reenacted November 8, 1960, further changed the name to the New Mexico state university. See also 21-8-2 NMSA 1978.
Compiler's notes. — The words "this act" would mean, by strict interpretation, the sections of the 1937 amendatory act by which they were inserted, compiled as 21-8-15, 21-8-16, 21-8-25 NMSA 1978. However, reference was apparently intended to the whole of the original 1929 act as amended.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations § 120.
14A C.J.S. Colleges and Universities §§ 4, 10.
Structure 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.