NM Stat § 23-1-2 (2021)
2021 New Mexico Statutes|Chapter 23 - State Health Institutions|Article 1 - General Provisions|Section 23-1-2 - [Sale or lease of lands; disposition of proceeds.]

The New Mexico college of agriculture and mechanic arts [New Mexico state university] and all other state, educational and charitable institutions, in New Mexico, are authorized to expend the funds derived from the sale and lease of their lands, or so much thereof as may be necessary which are placed to the credit of the respective institutions, for buildings, equipment and other permanent improvements. History: Laws 1905, ch. 72, § 1; Code 1915, § 5153; C.S. 1929, § 130-1303; 1941 Comp., § 5-103; 1953 Comp., § 13-3-3. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. The name of the New Mexico college of agriculture and mechanic arts was changed to New Mexico state university by N.M. Const., art. XII, § 11, as repealed and reenacted on November 8, 1960. Cross references. — For Fort Bayard medical center, see 23-1-12 NMSA 1978. For management and purposes of normal schools and their successors, see N.M. Const., art. XII, § 13 and 21-3-4 NMSA 1978 et seq. For northern New Mexico state school, see N.M. Const., art. XII, § 13 and 21-4-1 NMSA 1978. For New Mexico school for the visually handicapped, see N.M. Const., art. XII, § 13 and 21-5-2 NMSA 1978. For New Mexico school for the deaf, see N.M. Const., art. XII, § 13 and 21-6-1 NMSA 1978. For university of New Mexico, see N.M. Const., art. XII, § 13 and 21-7-3 NMSA 1978 et seq. For New Mexico state university, see N.M. Const., art. XII, § 13, 21-8-4, 21-8-5 and 21-8-8 NMSA 1978. For New Mexico institute of mining and technology, see N.M. Const., art. XII, § 13 and 21-11-4 NMSA 1978 et seq. For New Mexico military institute, see N.M. Const., art. XII, § 13 and 21-12-1 NMSA 1978 et seq. For New Mexico boys' school at Springer, see N.M. Const., art. XIV, §§ 1, 3. For girls' welfare home, see N.M. Const., art. XIV, §§ 1, 3. For penitentiary, see N.M. Const., art. XIV, § 1 and 33-2-1 NMSA 1978 et seq. For miners' hospital, see N.M. Const., art. XIV, §§ 1, 3 and 23-3-1 to 23-3-4 NMSA 1978. For Las Vegas medical center (formerly New Mexico state hospital and meadows home for the aged), see N.M. Const., art. XIV, §§ 1, 3, and 23-1-12 NMSA 1978 et seq. and 23-5-1 NMSA 1978. For Los Lunas medical center, see N.M. Const., art. XIV, §§ 1, 3 and 23-1-12 NMSA 1978 et seq. For Carrie Tingley crippled children's hospital, see N.M. Const., art. XIV, §§ 1, 3 and 23-2-2 NMSA 1978 et seq. Girls' welfare home is state institution. 1960 Op. Att'y Gen. No. 60-187. Girls' welfare home may expend proceeds of sale of property to acquire a new dormitory. This may be done by paying cash to the contractor, or by assigning the payments due under a conditional sales contract or mortgage. Furthermore, the girls' welfare home may convey the property of the home to a contractor, in return for which the contractor will build the home a new dormitory. 1960 Op. Att'y Gen. No. 60-187. Girls' welfare home may sell property. — A sale of property by the girls' welfare home falls squarely within the provisions of this section. 1960 Op. Att'y Gen. No. 60-187. Proceeds are placed in credit. — Proceeds of the sale of lands by a state institution are placed to the credit of the selling institution. 1960 Op. Att'y Gen. No. 60-187. Drawing from permanent fund authorized. — Regents of the university of New Mexico are authorized to draw upon any money in the permanent fund to pay for land and improvements. 1913 Op. Att'y Gen. No. 13-1119. Drawing from income fund. — The capitol custodian committee is authorized to draw money from the income fund from lands donated for public buildings. 1913 Op. Att'y Gen. No. 13-1139. Restrictions on the appropriation of the miners' hospital trust fund revenues contained in the 1988 appropriations bill were consistent with the rule that legislative conditions on appropriations be limited to the fiscal period covered by the bill and did not conflict with this section. 1989 Op. Att'y Gen. No. 89-30. Am. Jur. 2d, A.L.R. and C.J.S. references. — 14 C.J.S. Charities § 34; 14A C.J.S. Colleges and Universities § 11.