Section 21-1-27 - Higher education department; distribution of available funds. - New Mexico Statutes

21-1-27. Higher education department; distribution of available funds.

In its distribution of available funds and its adjustment and approval of budgets, the higher education department shall not, in any event or in any manner, substitute for public funds any gift, donation, private endowment, patent income or other gratuity received or enjoyed by an institution in determining the adequate financing of an institution under its charge.