Bonds issued under the provisions of this act [21-8-15, 21-8-16, 21-8-18 to 21-8-26 NMSA 1978], being for the sole purposes specified in Section 1 [21-8-15 NMSA 1978] hereof, shall forever be and remain free and exempt from taxation by this state or any subdivision thereof. Such bonds may be deposited as security for public monies by depositaries thereof within the state of New Mexico.
History: Laws 1929, ch. 40, § 13; C.S. 1929, § 130-1026; 1941 Comp., § 55-2525; 1953 Comp., § 73-26-25.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 71 Am. Jur. 2d State and Local Taxation §§ 495, 526.
Constitutional enumeration of subjects of tax exemption as affecting power of legislature to free government securities or property from taxation, 9 A.L.R. 436.
84 C.J.S. Taxation § 260.
Structure 2021 New Mexico Statutes
Chapter 21 - State and Private Education Institutions
Article 8 - New Mexico State University
Section 21-8-1 - [Objects; admission; rules and regulations.]
Section 21-8-2 - [Construction of other names for college used in statutes.]
Section 21-8-5 - [Powers and duties of board of regents.]
Section 21-8-6 - [Rules; calling meetings of board of regents.]
Section 21-8-7 - [Course of instruction; books; diplomas and degrees; removal of officers.]
Section 21-8-9 - [Agricultural experiment station; direction; federal benefits.]
Section 21-8-10 - [Contracts for acceptance and administration of funds.]
Section 21-8-11 - [Acceptance of congressional grant of 1887 for experiment station.]
Section 21-8-12 - [Acceptance of Adams Act grant for experiment station.]
Section 21-8-13 - [Acceptance of Purnell Act grant for experiment station.]
Section 21-8-14 - [Acceptance of congressional grant of 1890 for New Mexico state university.]
Section 21-8-15 - Authorized to borrow money.
Section 21-8-16 - Board may issue building and improvement bonds.
Section 21-8-17 - Form and conditions of bonds.
Section 21-8-21 - [Income pledged to pay building and improvement bonds.]
Section 21-8-22 - [Payment of interest and principal of building and improvement bonds.]
Section 21-8-23 - [Use of proceeds of building and improvement bonds restricted.]
Section 21-8-24 - [State treasurer's payments relating to building and improvement bonds.]
Section 21-8-25 - [Issuance of building and improvement bonds in series; restrictions.]
Section 21-8-26 - [Bonds exempt from taxation.]
Section 21-8-27 - [Board constituted custodian for grave of Eugene Manlove Rhodes.]
Section 21-8-28 - Building materials research and testing institute established.
Section 21-8-29 - Function of testing institute.
Section 21-8-32 - Institute not conducted for gain.
Section 21-8-33 - Use of services.
Section 21-8-34 - Fees for services.
Section 21-8-35 - Center for broadcasting and international communications established.
Section 21-8-36 - Activities of center.
Section 21-8-38 - International business facilitation center established; duties.
Section 21-8-39 - Waste management education and research consortium created; purpose.
Section 21-8-40 - Water resources research institute created; purpose.
Section 21-8-41 - College assistance migrant program.
Section 21-8-42 - Regional educational technology assistance center created.
Section 21-8-43 - Alliance for underrepresented students created; purpose.
Section 21-8-44 - Public-private partnership for university campus in San Luis Potosi, Mexico.