New Mexico Statutes Chapter 21. State and Private Education Institutions § 21-8-5. Powers and duties of board of regents

The board of regents shall direct the disposition of any moneys belonging to or appropriated to the agricultural college [New Mexico state university] and experiment station and shall make all rules and regulations necessary for the government and management of the same, adopt plans and specifications for necessary buildings and superintend the construction of said buildings, and fix the salaries of professors, teachers and other employees, and the tuition fees to be charged in said university.