Title to all rights and property acquired by any district, shall immediately and by operation of law, vest in such district in its corporate name; such property shall be held for the uses and purposes of the district, and shall be exempt from all taxation.
History: Laws 1927, ch. 45, § 909; C.S. 1929, § 30-909; 1941 Comp., § 77-3022; 1953 Comp., § 75-31-22.
ANNOTATIONS
Cross references. — For tax exemptions, see N.M. Const., art. VIII, § 3.