Securities issued under the Flood Control District Act and the income therefrom are exempt from taxation by the district and any public body, except transfer, inheritance and estate taxes.
§ 72-18-68 NMSA 1978
Securities and income exempt
Known as the Flood Control District Act
The act spans §§ 72–72 (72 sections).
Laws 1981, ch. 377, § 68.
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.