55-19-43 - Exemption from taxation of projects or bonds.
§ 55-19-43. Exemption from taxation of projects or bonds.
The accomplishment of the purposes stated in this chapter being for the benefit of the people of this state and for their improvement, the district in carrying out the purposes of this chapter will be performing an essential public function and shall not be required to pay any tax or assessment on the projects and related facilities or any part thereof. The interest on the bonds issued hereunder shall at all times be free from taxation within this state, and the state hereby covenants with the holder of any bonds to be issued hereunder that the Bienville Recreational District shall not be required to pay any taxes or assessments imposed by the state or any of its political subdivisions or taxing districts.
Sources: Codes, 1942, § 5977.5-22; Laws, 1972, ch. 329, § 22, eff from and after passage (approved April 11, 1972).