N.M. Stat. § 21-3-20
[Income of permanent land funds of New Mexico highlands
university pledged.]
That from and after the passage and approval of this act [21-3-13, 21-3-14, 21-3-16
to 21-3-28 NMSA 1978], all permanent funds thereafter derived from the sale or
disposition of the lands held in trust for New Mexico normal university [New Mexico
highlands university] shall be invested in the same manner as other permanent funds of
the state of New Mexico are authorized to be invested, the income from which shall
likewise form a part of the pledged income for the payment of principal and interest of
bonds issued by the board of regents of the New Mexico normal university [New Mexico
highlands university] under the provisions of this act.