New Mexico § 21-5-20 [Funds restricted to designated purposes.]

New Mexico Statutes

§ 21-5-20 — [Funds restricted to designated purposes.]

New Mexico § 21-5-20

Ch. 21State and Private Education Institutions

Art. 5New Mexico School for the Blind and Visually

This text of New Mexico § 21-5-20 ([Funds restricted to designated purposes.]) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 21-5-20 (2026).

Text

None of the funds derived from the sale of said bonds, except so much thereof as shall be necessary to defray the cost of the issuance thereof and the accrued interest from the date thereof to the time of delivery, shall ever be used or expended by said board for any other purposes than those for which authority is herein given to issue the same, as set forth in Section 1 [21-5-12 NMSA 1978] hereof.

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None of the funds derived from the sale of said bonds, except so much thereof as shall be necessary to defray the cost of the issuance thereof and the accrued interest from the date thereof to the time of delivery, shall ever be used or expended by said board for any other purposes than those for which authority is herein given to issue the same, as set forth in Section 1 [21-5-12 NMSA 1978] hereof.