The revenue bonds issued under authority of the Hospital Funding Act and the income from the bonds, all mortgages or other security instruments executed as security for the bonds, all agreement [agreements] made pursuant to the provisions of that act and the revenues derived therefrom by a county shall be exempt from all taxation by the state or any political subdivision thereof.
History: 1978 Comp., § 4-48B-24, enacted by Laws 1981, ch. 83, § 24.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Structure New Mexico Statutes
Article 48B - Hospital Funding
Section 4-48B-1 - Short title.
Section 4-48B-2 - Purpose of act.
Section 4-48B-3 - Definitions.
Section 4-48B-4 - Annual report.
Section 4-48B-5 - Power of counties.
Section 4-48B-7 - Power to lease hospitals.
Section 4-48B-8 - Sick and indigent persons; agreements for care with state and county agencies.
Section 4-48B-11 - Federal aid.
Section 4-48B-12 - Tax levies authorized.
Section 4-48B-13 - County hospital; power to lease; expenditure of proceeds from tax levy.
Section 4-48B-14 - Payment of charges; persons committed by district court.
Section 4-48B-15 - Election on special levy.
Section 4-48B-16 - Validation of earlier elections.
Section 4-48B-18 - Hospital revenue bonds; authority to issue; pledge of revenues.
Section 4-48B-19 - Use of proceeds of bond issue.
Section 4-48B-20 - Revenue bonds; terms.
Section 4-48B-21 - Ordinance authorizing revenue bonds.
Section 4-48B-22 - Hospital revenue bonds not general county obligations.
Section 4-48B-23 - Revenue bonds; security; restrictions and limitations.
Section 4-48B-24 - Revenue bonds; exemption from taxation.
Section 4-48B-25 - Election not required.
Section 4-48B-26 - No notice or publication required.
Section 4-48B-27 - Hospitals declared necessary public buildings.