Bonds issued under the provisions of this act [21-7-13, 21-7-14, 21-7-16 to 21-7-25 NMSA 1978], being for the sole purposes specified in Section 1 [21-7-13 NMSA 1978] hereof, shall forever be and remain free and exempt from taxation by this state or any subdivision thereof. History: Laws 1927, ch. 47, § 13; C.S. 1929, § 130-925; 1941 Comp., § 55-2425; 1953 Comp., § 73-25-25. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Am. Jur. 2d, A.L.R. and C.J.S. references. — 71 Am. Jur. 2d State and Local Taxation §§ 495, 526. Constitutional enumeration of subjects of tax exemption as affecting power of legislature to free government securities or property from taxation, 9 A.L.R. 436. 84 C.J.S. Taxation § 260.
New Mexico Legal Code