Statutes > New Mexico Statutes > Chapter 3 - Municipalities. > Article 51 - Greater Municipality Parking, 3-51-1 through 3-51-46. > Section 3-51-42 - Bonds; exemption from taxation.

Section 3-51-42 - Bonds; exemption from taxation.

3-51-42. Bonds; exemption from taxation.

Bonds and other evidences of indebtedness issued under the provisions of the Greater Municipality Parking Law [3-51-1 to 3-51-45 NMSA 1978] shall forever be and remain free and exempt from taxation by this state or any subdivision thereof.