N.M. Admin. Code § 8.9.9.13

Current through Register Vol. 36, No. 1, January 14, 2025

Section 8.9.9.13 - ADMINISTRATION OF THE FUND

A. The fund is created in the authority consisting of appropriations, gifts, grants and donations to the fund, which shall be invested as provided in the New Mexico Finance Authority Act.

B. Money in the fund shall not revert.

C. Administrative costs of the authority may be paid from the fund.

D. The fund shall be administered by the authority as a separate account, but may consist of such sub-accounts as the authority deems necessary to carry out the purposes of the fund.

E. Money from repayments of loans or payments on securities held by the authority for projects authorized specifically by law shall be deposited in the fund. The fund shall also consist of any other money appropriated, distributed or otherwise allocated to the fund for the purpose of financing projects authorized specifically by law.

N.M. Admin. Code § 8.9.9.13

Adopted by New Mexico Register, Volume XXXV, Issue 24, December 23, 2024, eff. 12/23/2024