reglab/housing_qa huggingface dataset:
NM Stat § 21-27-4 (2021)
2021 New Mexico Statutes|Chapter 21 - State and Private Education Institutions|Article 27 - Maintenance for Two-Year Colleges|Section 21-27-4 - Two-year college maintenance fund; created; use of the fund.

A. The "two-year college maintenance fund" is created in the state treasury. The fund shall consist of such money as the legislature may from time to time appropriate. The fund shall be invested by the state treasurer as other funds are invested. Balances remaining in the fund at the end of each fiscal year shall not revert. B. The fund shall be used to provide funding to qualifying institutions only for the following purposes: (1) major repair to buildings, including such items as roof repair, repair of floor coverings, repair of structural damage and replacement or repair of mechanical equipment; (2) remodeling or renovation of existing structures; (3) landscaping outside of buildings, including parking lots, to create more attractive, more efficient and safer settings; (4) lighting, signs and general design work calculated to make the buildings and grounds safer; (5) maintenance contracts on building equipment, mechanical equipment, structural equipment and any other equipment necessary for the operation of the institution; (6) purchase, installation and maintenance of equipment calculated to provide energy or water conservation; (7) construction of storage buildings and maintenance shop buildings; and (8) construction of or repair to access roads to a campus if required. History: Laws 1983, ch. 316, § 4. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Colleges and Universities §§ 32, 33; 63A Am. Jur. 2d Public Funds §§ 56 to 58. 14A C.J.S. Colleges and Universities §§ 7, 10, 14; 81A C.J.S. States § 205.
NM Stat § 21-27-5 (2021)
2021 New Mexico Statutes|Chapter 21 - State and Private Education Institutions|Article 27 - Maintenance for Two-Year Colleges|Section 21-27-5 - Distributions from the fund; approval by the board required.

A. A qualifying institution shall make application to the board for distribution of its allocation, or any part thereof, only for any of the purposes enumerated in Section 4 [21-27-4 NMSA 1978] of the Two-Year College Maintenance Act. B. No distribution shall be made to any qualifying institution until the board [commission [department]] has approved the distribution of a specific amount. The board [commission [department]] may reduce the amount of any distribution to any qualifying institution. In taking such action, the board [commission [department]] shall set forth its reasons for such action and report its actions and reasons to the responsible governing board of the institution. History: Laws 1983, ch. 316, § 5. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. For designation of the commission on higher education as the higher education department, see 9-25-4.1 NMSA 1978.
NM Stat § 21-28-1 (2021)
2021 New Mexico Statutes|Chapter 21 - State and Private Education Institutions|Article 28 - University Research Park and Economic Development|Section 21-28-1 - Short title.

Chapter 21, Article 28 NMSA 1978 may be cited as the "University Research Park and Economic Development Act". History: Laws 1989, ch. 264, § 1; 2007, ch. 247, § 1. ANNOTATIONSThe 2007 amendment, effective June 15, 2007, changed the statutory reference to the act and the title of the act to add "Economic Development".
NM Stat § 21-28-2 (2021)
2021 New Mexico Statutes|Chapter 21 - State and Private Education Institutions|Article 28 - University Research Park and Economic Development|Section 21-28-2 - Research park; purpose.

The purpose of the University Research Park and Economic Development Act is to: A. promote the public welfare and prosperity of the people of New Mexico; B. foster economic development within New Mexico; C. forge links between New Mexico's educational institutions, business and industrial communities and government through the development of research parks on university real property; or D. engage in other cooperative ventures of innovative technological significance that will advance education, science, research, conservation, health care or economic development within New Mexico. History: Laws 1989, ch. 264, § 2; 1998, ch. 54, § 1; 2007, ch. 247, § 2. ANNOTATIONSThe 2007 amendment, effective June 15, 2007, changed the title of the act. The 1998 amendment, effective May 20, 1998, added the Subsection designations; in Subsection B, substituted "New Mexico" for "the state by forging"; in Subsection C, inserted "forge", substituted "New Mexico's" for "the state's", and deleted "through" at the end; in Subsection D, inserted "engage in", substituted "that" for "which", inserted "science", "conservation, health care" and substituted "New Mexico" for "the state".
NM Stat § 21-28-4 (2021)
2021 New Mexico Statutes|Chapter 21 - State and Private Education Institutions|Article 28 - University Research Park and Economic Development|Section 21-28-4 - Research park corporations; authorization; members; terms; meetings; bylaws.

A. Any university may form, pursuant to the provisions of the Nonprofit Corporation Act [Chapter 53, Article 8 NMSA 1978] or the Business Corporation Act [Chapter 53, Articles 11 to 18 NMSA 1978], one or more research park corporations, separate and apart from the state and the university, to promote, develop and administer research parks or technological innovations for scientific, educational and economic development opportunities in accordance with bylaws adopted by the research park corporation or economic development initiatives that support the teaching, research or service mission of the university. B. Each research park corporation shall be governed by, and all of its functions, powers and duties shall be exercised by, a board of directors appointed by the regents. Members of the board of directors may include the president of the university, the regents, officers and employees of the university and other persons selected by the regents. C. The board of directors shall elect a chair and other officers as the board of directors deems necessary. D. The board of directors shall adopt bylaws, in accordance with the provisions of the Nonprofit Corporation Act or the Business Corporation Act, as appropriate, governing the conduct of the research park corporation in the performance of its duties under the University Research Park and Economic Development Act. History: Laws 1989, ch. 264, § 4; 2007, ch. 247, § 4. ANNOTATIONSThe 2007 amendment, effective June 15, 2007, permitted universities to form nonprofit corporations for economic development initiatives that support the teaching, research or service mission of the university.
NM Stat § 21-28-7 (2021)
2021 New Mexico Statutes|Chapter 21 - State and Private Education Institutions|Article 28 - University Research Park and Economic Development|Section 21-28-7 - Limitations on application of laws.

A. A research park corporation shall not be deemed an agency, public body or other political subdivision of New Mexico, including for purposes of applying statutes and laws relating to personnel, procurement of goods and services, meetings of the board of directors, gross receipts tax, disposition or acquisition of property, capital outlays, per diem and mileage and inspection of records. B. A research park corporation shall be deemed an agency or other political subdivision of the state for purposes of applying statutes and laws relating to the furnishing of goods and services to the university that operates it and the risk management fund. C. A research park corporation, its officers, directors and employees shall be granted immunity from liability for any tort as provided in the Tort Claims Act [41-4-1 to 41-4-27 NMSA 1978]. A research park corporation may enter into agreements with insurance carriers to insure against a loss in connection with its operations even though the loss may be included among losses covered by the risk management fund of New Mexico. History: Laws 1989, ch. 264, § 7; 1991, ch. 220, § 1; 1998, ch. 54, § 4. ANNOTATIONSThe 1998 amendment, effective May 20, 1998, deleted the introductory language; added the Subsection designations; in Subsection A, substituted "New Mexico" for "the state", and deleted "real or personal"; in Subsection B, inserted "furnishing of goods and services to the university that operates it and the"; in Subsection C, deleted "also" following "may", and substituted "a" for "any"; and made minor stylistic changes. The 1991 amendment, effective June 14, 1991, added "Except as provided in this section" at the beginning and inserted "including" in the first sentence; deleted "the members of the board of directors of a research park corporation officers, directors and employees of the research park corporation" preceding "shall be deemed" and inserted "a research park corporation, its officers, directors and employees" preceding "shall be granted" in the second sentence; and made minor stylistic changes.
NM Stat § 21-28-8 (2021)
2021 New Mexico Statutes|Chapter 21 - State and Private Education Institutions|Article 28 - University Research Park and Economic Development|Section 21-28-8 - Issuance of revenue bonds.

A research park corporation may issue negotiable revenue bonds or notes or both. The proceeds of the sale of bonds issued pursuant to the University Research Park and Economic Development Act shall be used to carry out the provisions of that act and to fund reserves for the research park corporation to pay interest on the bonds and to pay the necessary expenses of issuing the bonds, including bond counsel and fiscal adviser fees and other legal, consulting and printing fees and costs. All bonds may be issued in one or more series. The bonds of each issue shall be dated and bear interest as prescribed by the research park corporation. The bonds shall mature serially or otherwise not later than forty years from their date and may be redeemable before maturity at the option of the research park corporation at prices and under terms and conditions fixed by the research park corporation in its resolution or trust agreement providing for issuance of the bonds. The resolution or trust agreement shall also determine the form of the bonds, including the form of any interest coupons to be attached thereto, and shall fix the denominations of the bonds and the place of the payment of the principal and interest thereon. The bonds shall be executed on behalf of the research park corporation as special obligations of the research park corporation payable only from the funds specified in the University Research Park and Economic Development Act and shall not be a debt of this state, any political subdivision of this state or any university, and neither this state nor any political subdivision nor university shall be liable for the debts of the research park corporation. The resolution or trust agreement may provide for registration of the bonds as to ownership and for successive conversion and reconversion from registered to bearer bonds and vice versa. The bonds may be registered in the principal office of the research park corporation. After the registration and delivery to the purchasers, the bonds are incontestable and constitute special obligations of the research park corporation, and the bonds and coupons are negotiable instruments under the laws of this state. The bonds may be sold at public or private sale by the research park corporation at prices and in accordance with procedures and terms the research park corporation determines to be advantageous and reasonably obtainable. The research park corporation may provide for replacement of any bond that may be mutilated or destroyed. History: Laws 1989, ch. 264, § 8; 2007, ch. 247, § 7. ANNOTATIONSThe 2007 amendment, effective June 15, 2007, changed the name of the act.
NM Stat § 21-28-9 (2021)
2021 New Mexico Statutes|Chapter 21 - State and Private Education Institutions|Article 28 - University Research Park and Economic Development|Section 21-28-9 - Status of bonds.

Bonds and other obligations issued under the provisions of the University Research Park and Economic Development Act shall be deemed issued on behalf of the university, but shall not be deemed to constitute a debt, liability, obligation of or a pledge of the faith and credit of this state or any political subdivision thereof or any university, but shall be payable solely from the revenue or assets of the research park corporation pledged for that payment. Each obligation issued on behalf of the research park corporation under the University Research Park and Economic Development Act shall contain on its face a statement to the effect that neither this state nor any political subdivision, university or research park corporation shall be obligated to pay the same or the interest thereon except from the revenues or assets pledged therefor and that neither the faith and credit nor the taxing power of this state, any political subdivision thereof or any university is pledged to the payment of the principal of or the interest on such obligation. History: Laws 1989, ch. 264, § 9; 2007, ch. 247, § 8. ANNOTATIONSThe 2007 amendment, effective June 15, 2007, changed the name of the act.
NM Stat § 21-28-10 (2021)
2021 New Mexico Statutes|Chapter 21 - State and Private Education Institutions|Article 28 - University Research Park and Economic Development|Section 21-28-10 - Refunding bonds.

The board of directors of a research park corporation may by resolution provide for the issuance of refunding bonds to refund any outstanding bonds issued under the University Research Park and Economic Development Act, together with redemption premiums, if any, and interest accrued or to accrue thereon. Provisions governing the issuance and sale of bonds under the University Research Park and Economic Development Act govern the issuance and sale of refunding bonds insofar as applicable. Refunding bonds may be exchanged for the outstanding bonds or may be sold and the proceeds used to retire the outstanding bonds. Pending the application of the proceeds of any refunding bonds, with any other available funds, to the payment of the principal, interest and any redemption premiums on the bonds being refunded, and if so provided or permitted in the resolution of the research park corporation authorizing the issuance of such refunding bonds, to the payment of any interest on refunding bonds and any expenses incurred in connection with refunding, the proceeds may be placed in escrow and invested in securities that are unconditionally guaranteed by the United States and that shall mature or be subject to redemption by the holders thereof, at the option of the holders, not later than the respective dates when the proceeds, together with the interest accruing thereon, will be required for the purposes intended. History: Laws 1989, ch. 264, § 10; 2007, ch. 247, § 9. ANNOTATIONSThe 2007 amendment, effective June 15, 2007, changed the name of the act.
NM Stat § 21-28-11 (2021)
2021 New Mexico Statutes|Chapter 21 - State and Private Education Institutions|Article 28 - University Research Park and Economic Development|Section 21-28-11 - Trust agreements authorized.

In the discretion of the research park corporation, any bonds issued under the provisions of the University Research Park and Economic Development Act may be secured by a trust agreement by and between the research park corporation and a corporate trustee, which may be a bank or trust company having trust powers within or without the state. The trust agreement or the resolution providing for the issuance of bonds may pledge or assign all or any part of the revenues or assets of the research park corporation. The trust agreement or resolution may contain provisions for protecting and enforcing the rights and remedies of the holders of any bonds as may be reasonable and proper and not in violation of law, including covenants setting forth the duties of the research park corporation in relation to the purposes to which bond proceeds may be applied, the disposition or pledging of the revenues or assets of the research park corporation and the custody, safeguarding and application of all money. It is lawful for any bank or trust company incorporated under the laws of the state that may act as depository of the proceeds of bond revenues or other money hereunder to furnish indemnifying bonds or to pledge securities that may be required by the research park corporation. Any trust agreement or resolution may set forth the rights and remedies of the holders of any bonds and of the trustee and may restrict the individual right of action by any holders. In addition, any trust agreement or resolution may contain other provisions as the research park corporation may deem reasonable and proper for the security of the holders of any bonds. All expenses incurred in carrying out the provisions of a trust agreement or resolution may be paid from the revenues or assets pledged or assigned to the payment of the principal of and the interest on bonds or from any other funds available to the research park corporation. History: Laws 1989, ch. 264, § 11; 2007, ch. 247, § 10. ANNOTATIONSThe 2007 amendment, effective June 15, 2007, changed the name of the act.
NM Stat § 21-28-12 (2021)
2021 New Mexico Statutes|Chapter 21 - State and Private Education Institutions|Article 28 - University Research Park and Economic Development|Section 21-28-12 - Pledge of assets or revenues of research park corporation.

The pledge of any assets or revenues of the research park corporation to the payment of the principal of or the interest on any bonds shall be valid and binding from the time when the pledge is made, and any such assets or revenues shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of any pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the research park corporation, irrespective of whether such parties have notice thereof. Nothing in this section shall be construed to prohibit the research park corporation from selling any assets subject to any such pledge except to the extent that any such sale may be restricted by the trust agreement or resolution providing for the issuance of such bonds. History: Laws 1989, ch. 264, § 12.
NM Stat § 21-28-13 (2021)
2021 New Mexico Statutes|Chapter 21 - State and Private Education Institutions|Article 28 - University Research Park and Economic Development|Section 21-28-13 - All money received from sale of bonds deemed trust funds.

All money received by a research park corporation from bonds issued under the provisions of the University Research Park and Economic Development Act shall be deemed funds to be held in trust, applied as provided in that act or transferred to other research park corporations, nonprofit corporations or the university as the research park corporation deems appropriate. The resolution authorizing any obligations or the trust agreement securing the obligations may provide that any of the money covered by this section may be temporarily invested pending its disbursement. The resolution shall provide that any officer with whom, or any bank or trust company with which, the money is deposited shall act as trustee of the money and shall hold and apply the money for the purposes of the University Research Park and Economic Development Act, subject to provisions that rules under that act and the resolution or trust agreement may specify. Any such money described in this section received by a research park corporation may be invested as provided in the University Research Park and Economic Development Act. History: Laws 1989, ch. 264, § 13; 1991, ch. 220, § 2; 2007, ch. 247, § 11. ANNOTATIONSThe 2007 amendment, effective June 15, 2007, changed the name of the act. The 1991 amendment, effective June 14, 1991, inserted "from sale of bonds" in the catchline; inserted "from bonds issued" and substituted "funds to be held in trust" for "to be in trust" preceding "funds to be held" in the first sentence; inserted "covered by this section" in the second sentence; substituted "money received by a" for "money or any other money of the" in the final sentence; and made minor stylistic changes.
NM Stat § 21-28-14 (2021)
2021 New Mexico Statutes|Chapter 21 - State and Private Education Institutions|Article 28 - University Research Park and Economic Development|Section 21-28-14 - Limitation of liability.

The members of the board of directors of a research park corporation, while acting within the scope of their authority, and any person acting in their behalf, while acting within the scope of the person's authority, shall not be personally liable for the corporation's obligations. History: Laws 1989, ch. 264, § 14; 1991, ch. 220, § 3. ANNOTATIONSThe 1991 amendment, effective June 14, 1991, substituted "personally liable for the corporation's obligations" for "subject to any personal liability resulting from carrying out the provisions of the University Research Park Act" at the end of the section.
NM Stat § 21-28-15 (2021)
2021 New Mexico Statutes|Chapter 21 - State and Private Education Institutions|Article 28 - University Research Park and Economic Development|Section 21-28-15 - Rights of holders of bonds.

Any holder of bonds issued under the provisions of the University Research Park and Economic Development Act or any coupons appertaining thereto, and the trustee under any trust agreement or resolution authorizing the issuance of those bonds, except as the rights given pursuant to that act may be restricted by a trust agreement or resolution, may, either at law or in equity, by suit, mandamus or other proceeding, protect and enforce any and all rights under the laws of this state or granted by that act or under the trust agreement or resolution or under any other contract executed by the research park corporation pursuant to that act, and may enforce and compel the performance of all duties required by that act or by the trust agreement or resolution to be performed by the research park corporation or by any officer thereof. History: Laws 1989, ch. 264, § 15; 2007, ch. 247, § 12. ANNOTATIONSThe 2007 amendment, effective June 15, 2007, changed the name of the act.
NM Stat § 21-28-16 (2021)
2021 New Mexico Statutes|Chapter 21 - State and Private Education Institutions|Article 28 - University Research Park and Economic Development|Section 21-28-16 - Legal investments; tax exemption.

All bonds issued by a research park corporation under the University Research Park and Economic Development Act are legal and authorized investments for banks, savings banks, trust companies, savings and loan associations, insurance companies, fiduciaries, trustees and guardians and for the sinking funds of political subdivisions, departments, institutions and agencies of this state. When accompanied by all unmatured coupons appurtenant to them, the bonds are sufficient security for all deposits of state funds and of all funds of any board in control of public money at the par value of the bonds. The bonds and the income from the bonds are free from taxation within this state, except estate taxes. The research park corporation in its discretion and by those means as it deems appropriate may waive the exemption from federal income taxation of interest on the bonds. The bonds subject to federal income taxation issued by the research park corporation shall be payable as to principal and interest with such frequency as may be required by the research park corporation. History: Laws 1989, ch. 264, § 16; 1991, ch. 220, § 4; 2007, ch. 247, § 13. ANNOTATIONSThe 2007 amendment, effective June 15, 2007, changed the name of the act. The 1991 amendment, effective June 14, 1991, inserted "research park" preceding "corporation" in two places and substituted "estate taxes" for "inheritance and gift taxes" in the third sentence.