Statutes > Kentucky Statutes > CHAPTER 177 STATE AND FEDERAL HIGHWAYS -- LIMITED ACCESS FACILITIES -- TURNPIKES -- ROAD BONDS -- BILLBOARDS -- RECYCLERS > 177.510 Turnpike properties and bonds exempt from taxation.

177.510 Turnpike properties and bonds exempt from taxation.

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177.510 Turnpike properties and bonds exempt from taxation. The exercise of the powers granted by KRS 177.390 to 177.570 will be in all respects for <br>the benefit of the people of the Commonwealth, for the increase of their commerce and <br>prosperity, and for the improvement of their health and living conditions, and as the <br>operation and maintenance of turnpike projects by the department will constitute the <br>performance of essential governmental functions, the department shall not be required to <br>pay any taxes or assessments upon any turnpike project or any property acquired or used <br>by the department under the provisions of KRS 177.390 to 177.570 or upon the income <br>therefrom, and the bonds issued under the provisions of KRS 177.390 to 177.570, their <br>transfer and the income therefrom (including any profit made on the sale thereof) shall at <br>all times be free from taxation within the Commonwealth. History: Created 1950 Ky. Acts ch. 157, sec. 13.