There is a newer version of the New Mexico Statutes
2009 New Mexico Statutes
Chapter 5 - Municipalities and Counties.
Article 5 - Joint City-County Building
Section 5-5-25 - Exemption from taxation.
5-5-25. Exemption from taxation.
Bonds issued by any municipality pursuant hereto and the income therefrom shall at all times be free from taxation by the state of New Mexico and any subdivision thereof, except for any estate, inheritance and transfer taxes.
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