Statutes > New Mexico Statutes > Chapter 21 - State and Private Education Institutions. > Article 5 - New Mexico School for the Visually Handicapped, 21-5-1 through 21-5-23. > Section 21-5-23 - Tax exemption; security for public moneys.

Section 21-5-23 - Tax exemption; security for public moneys.

21-5-23. [Tax exemption; security for public moneys.]

Bonds issued under the provisions of this act [21-5-12, 21-5-13, 21-5-15 to 21-5-23 NMSA 1978], being for the sole purposes specified in Section 1 [21-5-12 NMSA 1978] hereof, shall forever be and remain free and exempt from taxation by this state or any subdivision thereof. Such bonds may be deposited as security for public moneys by depositaries thereof within the state of New Mexico.