Section 21-23-8 - Fund created. - New Mexico Statutes

21-23-8. Fund created.

There is created in the state treasury the "post-secondary educational institution fund". Money appropriated to this fund or accruing to it through gifts, grants or bequests shall not be transferred to another fund or encumbered or disbursed in any manner except for the administration of the Post-Secondary Educational Institution Act [21-23-1 NMSA 1978] or the Out-of-State Proprietary School Act [21-24-1 NMSA 1978] NMSA 1978].  The fund shall not revert at the end of the fiscal year. Disbursements from the fund shall be made only upon warrant drawn by the secretary of finance and administration pursuant to vouchers signed by the executive director of the commission on higher education.