Bonds are exempt from taxation by the state or any of its political subdivisions. No obligation created pursuant to the Teacher Housing Revenue Bond Act shall be a charge against or a debt of the state or any of its political subdivisions.
§ 22-19A-12 NMSA 1978
Tax exemption; no charge against state
Known as the Teacher Housing Revenue Bond Act
The act spans §§ 22–22 (12 sections).
Laws 2002, ch. 22, § 12.
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.