New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 91 - GRANTS
Part 2 - REVIEW AND SELECTION OF COLONIAS INFRASTRUCTURE PROJECTS
Section 2.91.2.16 - ADMINISTRATION OF THE COLONIAS INFRASTRUCTURE TRUST FUND

Universal Citation: 2 NM Admin Code 2.91.2.16

Current through Register Vol. 35, No. 18, September 24, 2024

A. Pursuant to Section 6-30-7, NMSA 1978, the colonias infrastructure trust fund shall be administered by the state treasurer's office and shall be invested by the state investment officer in the same manner as land grant permanent funds are invested under state law. All investment earnings on the colonias infrastructure trust fund shall be credited to the colonias infrastructure trust fund. The colonias infrastructure trust fund shall not be expended for any purpose, but an annual distribution from the trust fund shall be made to the project fund pursuant to Section 6-30-7, NMSA 1978.

B. Annual distributions to the colonias infrastructure project fund from the colonias infrastructure trust fund shall be made as required by the authority.

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