Tax exemption; no charge against state.

  1. Law
  2. New Mexico Statutes
  3. Public Schools
  4. School Revenue Bonds
  5. Tax exemption; no charge against state.

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A. Bonds or other special obligations issued pursuant to the School Revenue Bond Act are exempt from taxation by the state or any of its political subdivisions.

B. No obligation created pursuant to the School Revenue Bond Act shall be a charge against or a debt of the state or any of its political subdivisions.

History: 1953 Comp., § 77-16-16, enacted by Laws 1967, ch. 16, § 255.


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