Bonds issued under the provisions of this act [ 21-5-12, 21-5-13, 21-5-15 to 21-5-23 NMSA 1978], being for the sole purposes specified in Section 1 [ 21-5-12 NMSA 1978] hereof, shall forever be and remain free and exempt from taxation by this state or any subdivision thereof. Such bonds may be deposited as security for public moneys by depositaries thereof within the state of New Mexico.
§ 21-5-23 NMSA 1978
[Tax exemption; security for public moneys.]
1941 Comp., § 55-2218, enacted by Laws 1949, ch. 44, § 12; 1953 Comp., § 73-23-21.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.