NMSA 1978, § 7-27-5.13 — 7-27-5.13

Educational institution research and development
facilities revenue bonds.
No more than ten percent of the book value of the severance tax permanent fund
may be invested in educational institution revenue bonds described in this section.

# A.

The revenue bonds shall have been issued by one of the following educational
institutions:
(1) the university of New Mexico;
(2) the New Mexico state university;
(3) the New Mexico highlands university;
(4) the western New Mexico university;
(5) the eastern New Mexico university; and
(6) the New Mexico institute of mining and technology.

# B.

The revenue bonds shall have been issued under the authority of Chapter 6,
Article 17 NMSA 1978.

# C.

The revenue bonds shall have been issued to provide funds for the construction,
furnishing and equipping of a research or development facility, including any
infrastructure improvements necessary to the construction of the facility. The facility
shall be one that will:
(1) provide space for operations of an already funded research or
development project;
(2) be income-producing when completed and occupied; and
(3) provide both the local community in which it is located and the state
generally with economic benefits including, but not limited to, employment for students
of post-secondary educational institutions.