Section 16-5-12 – Tax exemption of interest charged on loan.
Any interest charged and collected by a financial institution for extending a loan to the commission is exempt from all taxes imposed by the state and its political subdivisions. History: Laws 1989, ch. 26, § 6.
Section 16-5-13 – Liberal interpretation.
The Cumbres and Toltec Scenic Railroad Act [16-5-1 to 16-5-13 NMSA 1978] shall be liberally construed to carry out its purpose. History: Laws 1989, ch. 26, § 7.
Section 16-5-1 – Execution of compact.
The legislature hereby approves and the governor is authorized to enter into a compact on behalf of this state with the state of Colorado in the form substantially as follows: CUMBRES AND TOLTEC SCENIC RAILROAD COMPACT The state of New Mexico and the state of Colorado, desiring to provide for the joint acquisition, ownership and […]
Section 16-5-1.1 – Short title.
Sections 16-5-1 through 16-5-7 NMSA 1978 and Sections 1 through 7 of this act [16-5-1.1, 16-5-8 tp 16-5-13 NMSA 1978] may be cited as the “Cumbres and Toltec Scenic Railroad Act”. History: Laws 1989, ch. 26, § 1. ANNOTATIONS