5-3-120 - Debt reorganization Bonds tax exempt.
5-3-120. Debt reorganization Bonds tax exempt.
No bonds issued under the authority of §§ 5-3-113 5-3-121 shall be subject to taxation by this state or by any county or municipality thereof, and such bonds shall so state on the face thereof.
[Acts 1939, ch. 225, § 7; C. Supp. 1950, § 136.16 (Williams, § 136.18); T.C.A. (orig. ed.), § 5-320.]