Statutes > New Mexico Statutes > Chapter 72 - Water Law. > Article 20 - Eastern Sandoval County Arroyo Flood Control Act, 72-20-1 through 72-20-103. > Section 72-20-98 - Securities and income therefrom exempt.

Section 72-20-98 - Securities and income therefrom exempt.

72-20-98. Securities and income therefrom exempt.

Securities issued under the Eastern Sandoval County Arroyo Flood Control Act 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.