Securities issued hereunder and the income therefrom shall forever be and remain free and exempt from taxation by the state, the authority and any other public body, except transfer, inheritance and estate taxes.
§ 72-16-98 NMSA 1978
Securities and income therefrom exempt
Known as the Arroyo Flood Control Act
The act spans §§ 72–72 (104 sections).
1953 Comp., § 75-36-98, enacted by Laws 1963, ch. 311, § 98.
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.