N.M. Admin. Code § 4.5.8.10

Current through Register Vol. 35, No. 21, November 5, 2024

Section 4.5.8.10 - LIMITATION ON FUNDS

A. Library bond program funds may be approved by the state legislature only during legislative sessions convened in even numbered years. The amount of bond funds received for distribution by the state library may vary depending on the amounts approved by the state legislature and subsequently approved by the voters.

B. Notwithstanding language elsewhere in this rule, the state library may, in its sole discretion, alter the distribution amounts to reflect the actual amount of approved bond funds.

C. Funds shall be expended in the fiscal year in which they are made available, unless otherwise stated in the authorizing legislation.

N.M. Admin. Code § 4.5.8.10

4.5.8.10 NMAC - N, 2/14/2008