Bonds authorized pursuant to the Border Development Act and the income from those bonds, all mortgages or other security instruments executed as security for those bonds, all lease and installment purchase agreements made pursuant to the provisions of that act and revenue derived from any lease or sale by the authority shall be exempt from all taxation by the state or any subdivision thereof. History: Laws 1991, ch. 131, § 24; 1995, ch. 192, § 19. The 1995 amendment, effective June 16, 1995, inserted "and installment purchase" preceding "agreements", substituted "of that act" for "hereof", and deleted "of New Mexico" following "state".
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