Code of Virginia - Title 53.1 Prisons And Other Methods Of Correction - Section 53.1-95.15 Exemption from taxes
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§ 53.1-95.15. Exemption from taxes
The exercise of the powers granted by this article shall be in all respects
for the benefit of the inhabitants of the Commonwealth, for the increase of
their commerce, and for the promotion of their safety, health, welfare,
convenience, and prosperity, and as the operation and maintenance of the
project by an authority created pursuant to this article will constitute the
performance of essential governmental functions, the authority shall not be
required to pay any taxes or assessments upon the project or any property
acquired or used by the authority under the provisions of this article or
upon the income therefrom; and the bonds issued under the provisions of this
article, 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 by any municipality, county, or other political
subdivision thereof.
(1990, c. 837.)
Sections: 53.1-95.8:1 53.1-95.9 53.1-95.10 53.1-95.11 53.1-95.12 53.1-95.13 53.1-95.14 53.1-95.15 53.1-95.16 53.1-95.17 53.1-95.18 53.1-95.19 53.1-95.20 53.1-95.21 53.1-95.22
Last modified: April 3, 2009
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