Statutes > New Mexico Statutes > Chapter 6 - Public Finances. > Article 19 - Economic Advancement Districts, 6-19-1 through 6-19-18. > Section 6-19-17 - Nature of all bonds issued pursuant to act.

Section 6-19-17 - Nature of all bonds issued pursuant to act.

6-19-17. Nature of all bonds issued pursuant to act.

Bonds issued pursuant to the authority of the Economic Advancement District Act [6-19-1 to 6-19-18 NMSA 1978]:   

A.     shall be legal investments for savings banks and insurance companies organized under the laws of this state; and   

B.     shall be exempt from all taxation by the state or any political subdivision thereof.