N.M. Stat. § 72-19-96
Purpose of tax exemptions.
The effectuation of the powers authorized in the Southern Sandoval County Arroyo
Flood Control Act shall and will be in all respects for the benefit of the people of the
state, including but not necessarily limited to those residing in the authority exercising
any power under that act, for the improvement of their health and living conditions and
for the increase of their commerce and prosperity.