Section 72-19-98 - Securities and income therefrom exempt.
72-19-98. Securities and income therefrom exempt.
Securities issued under the Southern Sandoval County Arroyo Flood Control Act [72-19-1 to 72-19-103 NMSA 1978] and the income therefrom shall forever be and remain free and exempt from taxation by the state, the authority and any other public body, except transfer, inheritance and estate taxes.