Statutes > New Mexico Statutes > Chapter 3 - Municipalities. > Article 59 - Pollution Control Revenue Bonds, 3-59-1 through 3-59-14. > Section 3-59-12 - Exemption from taxation.

Section 3-59-12 - Exemption from taxation.

3-59-12. Exemption from taxation.

The bonds authorized by the Pollution Control Revenue Bond Act [3-59-1 to 3-59-14 NMSA 1978] and the income from said bonds, all mortgages or other security instrument executed as security for said bonds, all lease agreements made pursuant to the provisions hereof and revenue derived from any lease or sale by the municipality thereof shall be exempt from all taxation by New Mexico or any subdivision thereof.