Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2024 | Updated by Findlaw Staff
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.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 21. State and Private Education Institutions § 21-27-4. Two-year college maintenance fund; created; use of the fund - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-21-state-and-private-education-institutions/nm-st-sect-21-27-4/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)