New Mexico Statutes 22-19A-12. Tax exemption; no charge against state
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Bonds are exempt from taxation by the state or any of its political subdivisions. No obligation created pursuant to the Teacher Housing Revenue Bond Act shall be a charge against or a debt of the state or any of its political subdivisions.
Terms Used In New Mexico Statutes 22-19A-12
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.