The bonds authorized by the County Pollution Control Revenue Bond Act and the income from said bonds, all mortgages or other security instrument [instruments] 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 county thereof shall be exempt from all taxation by New Mexico or any subdivision thereof.
History: 1978 Comp., § 4-60-12, enacted by Laws 1978, ch. 181, § 12.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Structure 2021 New Mexico Statutes
Article 60 - County Pollution Control Revenue Bonds
Section 4-60-3 - Legislative intent.
Section 4-60-4 - Additional powers conferred on counties.
Section 4-60-5 - Bonds issued to finance projects.
Section 4-60-6 - Security for bonds.
Section 4-60-7 - Requirements respecting lease or agreement of sale.
Section 4-60-8 - Refunding bonds.
Section 4-60-9 - Use of proceeds from sale of bonds.
Section 4-60-10 - No contribution by county.
Section 4-60-11 - Bonds made legal investments.
Section 4-60-12 - Exemption from taxation.
Section 4-60-13 - Proceedings for issuance and sale of bonds; no notice or publication required.