Statutes > New Mexico Statutes > Chapter 4 - Counties. > Article 59 - County Industrial Revenue Bonds, 4-59-1 through 4-59-16. > Section 4-59-12 - Exemption from taxation.

Section 4-59-12 - Exemption from taxation.

4-59-12. Exemption from taxation.

The bonds authorized by the County Industrial Revenue Bond Act [Chapter 4, Article 59 NMSA 1978] and the income from the bonds, all mortgages or other security instruments executed as security for the bonds, all lease agreements made pursuant to the provisions of the County Industrial Revenue Bond Act, and revenue derived from any lease or sale by the county shall be exempt from all taxation by New Mexico, or any subdivision of it.