Sec. 7-329l. Tax exemption.
Sec. 7-329l. Tax exemption. The exercise of the powers granted by sections 7-329a to 7-329u, inclusive, shall be in all respects for the benefit of the inhabitants of
the state, for the increase of their commerce and for the promotion of their safety, health,
welfare, convenience and prosperity, and as the operation and maintenance of any project which the port authority is authorized to undertake constitute the performance of an
essential governmental function, no port authority shall be required to pay any taxes or
assessments upon any project acquired and constructed by it under the provisions of
said sections; and the bonds, notes, certificates or other evidences of debt issued under
the provisions of said sections, their transfer and the income therefrom, including any
profit made on the sale thereof, shall at all times be free and exempt from taxation by
the state and by any political subdivision thereof.
(P.A. 98-240, S. 12.)