The water revenue bonds authorized by this 1959 act [72-4-2 to 72-4-12 NMSA 1978] and the income from the water revenue bonds, all mortgages or other security instrument executed as security for the water revenue bonds, all agreements made pursuant to the provisions hereof and revenue derived therefrom by the county shall be exempt from all taxation by the state of New Mexico, or any subdivision thereof.
History: 1953 Comp., § 75-4-1.9, enacted by Laws 1959, ch. 286, § 9.
Structure New Mexico Statutes
Article 4 - Surveys, Investigations and Adjudication of Rights
Section 72-4-2 - [Authority to acquire water rights for development of county water supply system.]
Section 72-4-3 - [Authority to establish county water supply system; purpose.]
Section 72-4-4 - Water revenue bonds; limitations; conditions of issuance.
Section 72-4-5 - [Water revenue bonds; security; restrictions and limitations.]
Section 72-4-6 - [Determinations and findings prior to supplying water.]
Section 72-4-7 - [Sale of water revenue bonds; application of proceeds; cost of acquiring system.]
Section 72-4-8 - Water system cost paid from bond proceeds only.
Section 72-4-9 - [Water revenue bonds shall be legal investments.]
Section 72-4-11 - [Election by voters prior to issuance of bonds not required.]
Section 72-4-14 - [Cooperation with federal reclamation service; federal projects.]
Section 72-4-16 - [Reports of hydrographic surveys; filing with state engineer; copies as evidence.]
Section 72-4-18 - [Suits concerning water rights; submission of facts to jury or referee.]
Section 72-4-19 - [Adjudication of rights; decree filed with state engineer; contents of decree.]