The creation of the authority and the carrying out of its corporate purpose is in all respects for the benefit of the people of this state and is a public purpose, and the authority will be performing an essential governmental function in the exercise of the power conferred upon it by this article; and this state covenants with the holders of the bonds that the authority shall be required to pay no taxes or assessments upon any of the property acquired or leased by it or under its jurisdiction, control, possession, or supervision or upon its activities in the operation or maintenance of the buildings erected or acquired by it or any fees, rentals, or other charges for the use of such buildings or other income received by the authority, and that the bonds of the authority, their transfer, and the income therefrom shall at all times be exempt from taxation within the state.
Section: Previous 20-3-163 20-3-164 20-3-165 20-3-166 20-3-167 20-3-168 20-3-169 20-3-170 20-3-171 20-3-172 20-3-173 20-3-174 20-3-175 20-3-176 20-3-177 NextLast modified: October 14, 2016