Nature of all bonds issued pursuant to act
Known as the Economic Advancement District Act
The act spans §§ 6–6 (18 sections).
Laws 1987, ch. 115, § 17.
Bonds issued pursuant to the authority of the Economic Advancement District Act:
A. shall be legal investments for savings banks and insurance companies organized under the laws of this state; and
B. shall be exempt from all taxation by the state or any political subdivision thereof.
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.