Statutes > New Mexico Statutes > Chapter 22 - Public Schools. > Article 19A - Teacher Housing Revenue Bond, 22-19A-1 through 22-19A-12. > Section 22-19A-12 - Tax exemption; no charge against state.

Section 22-19A-12 - Tax exemption; no charge against state.

22-19A-12. Tax exemption; no charge against state.

Bonds are exempt from taxation by the state or any of its political subdivisions. No obligation created pursuant to the Teacher Housing Revenue Bond Act [22-19A-1 NMSA 1978] shall be a charge against or a debt of the state or any of its political subdivisions.