Statutes > New Mexico Statutes > Chapter 6 - Public Finances. > Article 13 - Institution Bonds, 6-13-1 through 6-13-26. > Section 6-13-15 - Exemption from taxation.

Section 6-13-15 - Exemption from taxation.

6-13-15. [Exemption from taxation.]

That bonds issued under the provisions of this act [6-13-1 to 6-13-26 NMSA 1978], and the income thereupon, being for the sole purpose specified in Section 2 [6-13-3 NMSA 1978] hereof, shall forever be and remain free and exempt from taxation by the state of New Mexico or any subdivision thereof.