The bonds authorized by the Pollution Control Revenue Bond Act and the income from said bonds, all mortgages or other security instrument executed as security for said bonds, all lease agreements made pursuant to the provisions hereof and revenue derived from any lease or sale by the municipality thereof shall be exempt from all taxation by New Mexico or any subdivision thereof.
History: 1953 Comp., § 14-60-12, enacted by Laws 1973, ch. 397, § 12.
Cross references. — For property tax exemption, see 7-36-3 NMSA 1978.
Structure 2021 New Mexico Statutes
Article 59 - Pollution Control Revenue Bonds
Section 3-59-2 - Pollution Control Revenue Bond Act; definitions.
Section 3-59-3 - Legislative intent.
Section 3-59-4 - Additional powers conferred on municipalities.
Section 3-59-5 - Bonds issued to finance projects.
Section 3-59-6 - Security for bonds.
Section 3-59-7 - Requirements respecting lease, or agreement of sale.
Section 3-59-8 - Refunding bonds.
Section 3-59-9 - Use of proceeds from sale of bonds.
Section 3-59-10 - No contribution by municipality.
Section 3-59-11 - Bonds made legal investments.
Section 3-59-12 - Exemption from taxation.
Section 3-59-13 - Construction of act.
Section 3-59-14 - Proceedings for issuance and sale of bonds; no notice or publication required.