Statutes > New Mexico Statutes > Chapter 72 - Water Law. > Article 19 - Southern Sandoval County Flood Control, 72-19-1 through 72-19-103. > Section 72-19-98 - Securities and income therefrom exempt.

Section 72-19-98 - Securities and income therefrom exempt.

72-19-98. Securities and income therefrom exempt.

Securities issued under the Southern Sandoval County Arroyo Flood Control Act [72-19-1 to 72-19-103 NMSA 1978] and the income therefrom shall forever be and remain free and exempt from taxation by the state, the authority and any other public body, except transfer, inheritance and estate taxes.