Opinion No. 35-1043
May 22, 1935
TO: Mr. Paul G. Schultz, State Director, Federal Housing Administration, Santa Fe, New Mexico.
{*69} This is in reply to your letter of May 21, 1935, in which you ask for our opinion as to whether or not the Board of Regents of the New Mexico Normal School has the power to borrow money through the Federal Housing Administration for the purpose of building and renting or selling dwellings to faculty members.
I do not know of any statute giving them such authority and without specific statutory authority they would not, in my opinion, have any such power. I would seriously question the validity of any such statute if it did exist.
By: QUINCY D. ADAMS,
Asst. Atty. General
You are being directed to the most recent version of the statute which may not be the version considered at the time of the judgment.