Bonds and their income and all mortgages or other instruments executed as security for them are exempt from all taxation by this state or any of its political subdivisions.
History: 1953 Comp., ยง 14-53-13, enacted by Laws 1965, ch. 300.
Structure 2021 New Mexico Statutes
Article 52 - Municipal Transit
Section 3-52-1 - Municipal Transit Law; short title.
Section 3-52-2 - Legislative determination.
Section 3-52-3 - Authorization.
Section 3-52-4 - Powers of authorized municipality.
Section 3-52-5 - Transportation contracts.
Section 3-52-6 - Bond ordinance.
Section 3-52-7 - Terms of bonds.
Section 3-52-8 - Sale of bonds.
Section 3-52-9 - Construction.
Section 3-52-10 - Additional security.
Section 3-52-11 - Foreclosure.
Section 3-52-12 - Legal investments.
Section 3-52-13 - Tax exemptions.