New Mexico Statutes
§ 21-3-18 — [Creation of interest and retirement fund by New Mexico
New Mexico·Ch. 21 State and Private Education Institutions·Art. 3 Certain State Post-Secondary Schools
highlands university regents; deposits.] 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.
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Legislative History
Laws 1941, ch. 208, § 6; 1941 Comp., § 55-2120; 1953 Comp., § 73-22-20.
Nearby Sections
15
§ 21-1-10
Delegation of authority§ 21-1-11
[Allocation of funds.]§ 21-1-12
[Annual reports; contents.]§ 21-1-19
[Oaths of board members; filing.]