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175.560 Turnpike properties and bonds are tax-exempt.

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175.560 Turnpike properties and bonds are tax-exempt. The exercise of the powers granted by this chapter will be in all respects for the benefit of <br>the people of the Commonwealth, for the increase of their commerce and prosperity, and <br>for the improvement of their health and living conditions, and as the operation and <br>maintenance of a turnpike project or projects by the authority will constitute the <br>performance of essential governmental functions, the authority shall not be required to <br>pay any taxes or assessments upon any turnpike project or any property acquired or used <br>by the authority under the provisions of this chapter or upon the income therefrom, and <br>the bonds issued under the provisions of this chapter, their transfer and the income <br>therefrom (including any profit made on the sale thereof) shall at all times be free from <br>taxation within the Commonwealth. Effective: March 25, 1960 <br>History: Created 1960 Ky. Acts ch. 173, sec. 16, effective March 25, 1960.