§ 15.2-5361. Exemption from taxation
The exercise of the powers granted by this chapter shall be in all respects for the benefit of the inhabitants of the Commonwealth and for the promotion of their safety, health, welfare, convenience and prosperity. The operation and maintenance of any hospital project which the authority is authorized to undertake will constitute the performance of an essential governmental function; therefore, the authority shall not be required to pay any taxes or assessments upon any hospital project acquired or constructed by it. The bonds issued under the provisions of this chapter, their transfer and the income therefrom, including any profit made on the sale thereof, shall at all times be free and exempt from taxation by the Commonwealth and any political subdivision thereof.
(Code 1950, § 32-271.5; 1973, c. 462, § 15.1-1596; 1979, c. 719; 1997, c. 587.)
Sections: Previous 15.2-5353 15.2-5354 15.2-5355 15.2-5356 15.2-5357 15.2-5358 15.2-5359 15.2-5360 15.2-5361 15.2-5362 15.2-5363 15.2-5364 15.2-5365 15.2-5366 15.2-5367 NextLast modified: April 2, 2009