Bonds authorized pursuant to the Border Development Act and the income from those bonds, all mortgages or other security instruments executed as security for those bonds, all lease and installment purchase agreements made pursuant to the provisions of that act and revenue derived from any lease or sale by the authority shall be exempt from all taxation by the state or any subdivision thereof.
§ 58-27-24 NMSA 1978
Exemption from taxation
Known as the Border Development Act
The act spans §§ 58–58 (30 sections).
Laws 1991, ch. 131, § 24; 1995, ch. 192, § 19.
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.