Bonds authorized pursuant to the Spaceport Development Act and the income from those bonds, all mortgages or other security instruments executed as security for those bonds, all lease and installment purchase agreements made pursuant to the provisions of that act and revenue derived from any lease or sale by the authority shall be exempt from all taxation by the state or any subdivision thereof.
History: Laws 2005, ch. 128, § 16.
Effective dates. — Laws 2005, ch. 128 contains no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, is effective June 17, 2005, 90 days after adjournment of the legislature.
Structure New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 31 - Spaceport Development
Section 58-31-1 - Short title.
Section 58-31-3 - Definitions.
Section 58-31-4 - Spaceport authority created; membership.
Section 58-31-5 - Authority powers and duties.
Section 58-31-6 - Spaceport authority; bonding authority; power to issue revenue bonds.
Section 58-31-7 - Authority loans; terms.
Section 58-31-8 - Bonds secured by trust indenture.
Section 58-31-9 - Authority revenue bonds; limitations; authorization; authentication.
Section 58-31-10 - Security for bonds, notes or certificates of indebtedness.
Section 58-31-11 - Requirements respecting resolution and lease.
Section 58-31-12 - Use of proceeds from sale of bonds.
Section 58-31-13 - Spaceport authority revenue bonds; refunding authorization.
Section 58-31-14 - Spaceport authority refunding bonds; escrow.
Section 58-31-15 - Authority refunding revenue bonds; terms.
Section 58-31-16 - Exemption from taxation.