New Mexico Statutes
§ 21-5-17 — [Interest and retirement fund established.]
New Mexico·Ch. 21 State and Private Education Institutions·Art. 5 New Mexico School for the Blind and Visually
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 (12) months and annually thereafter shall continue to place in said fund a sufficient amount to pay principal and interest maturing in the succeeding twelve (12) months.
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Legislative History
1941 Comp., § 55-2212, enacted by Laws 1949, ch. 44, § 6; 1953 Comp., §
Nearby Sections
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§ 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.]