3-52-13. Tax exemptions.
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/nm/chapter-3-municipalities/article-52-municipal-transit/3-52-13·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Bonds and their income and all mortgages or other instruments executed as security for them are exempt from all taxation by this state or any of its political subdivisions.
History: 1953 Comp., § 14-53-13, enacted by Laws 1965, ch. 300.