Bonds and their income and all mortgages or other instruments executed as security for them are exempt from all taxation by this state or any of its political subdivisions.
§ 3-52-13 NMSA 1978
Tax exemptions
Known as the Municipal Transit Law
The act spans §§ 3–3 (16 sections).
1953 Comp., § 14-53-13, enacted by Laws 1965, ch. 300.
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.