§ 35-8.1-21 - Exemptions from taxation.
SECTION 35-8.1-21
§ 35-8.1-21 Exemptions from taxation.– The exercise of the powers granted by this chapter will be in all respects forthe benefit of the people of the state and for the facilitation of the conductof their public business, and will constitute the performance of essentialgovernmental functions. Therefore, the authority shall not be required to payany taxes or assessments upon any property acquired or used by the authorityunder the provisions of this chapter or upon any income it may receive, and thebonds issued under the provisions of this chapter, their transfer and theincome therefrom (including any profit made on the sale thereof), shall at alltimes be free from taxation by the state or any political subdivision or otherinstrumentality of the state, excepting estate taxes.