The income or other revenues of a district, all properties at any time owned by a district, all bonds issued by a district and the income from the bonds issued by a district are exempt from taxation in the state.
§ 73-25-11 NMSA 1978
Exemption from taxation
Known as the Regional Transit District Act
The act spans §§ 73-25-1 to 73-25-9 (19 sections).
Laws 2003, ch. 65, § 11.
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.