Sec. 20.115. TAX EXEMPT. Since the authority is performing an essential governmental function in the exercise of the powers conferred on it by this chapter, the bonds issued under this Act, and the interest and income from the bonds, including any profit made on the sale of bonds, and all fees, charges, gifts, grants, revenues, receipts, and other money received or pledged to pay or secure the payment of bonds are free from taxation and assessments of every kind by this state and any city, county, district, authority, or other political subdivision of this state.
Added by Acts 1987, 70th Leg., ch. 728, Sec. 1, eff. June 20, 1987.
Section: Previous 20.102 20.103 20.104 20.105 20.106 20.107 20.108 20.109 20.110 20.111 20.112 20.113 20.114 20.115 20.116 NextLast modified: September 28, 2016