§ 3.1-58. (Repealed effective October 1, 2008) Exemption from taxation
The exercise of the powers granted by this article shall be in all respects for the promotion of the agricultural, commercial and industrial development of the Commonwealth and for the health, safety, welfare, convenience and prosperity of the inhabitants thereof, and as the operation and maintenance of the market by the authority will constitute the performance of essential governmental functions, the authority shall not be required to pay any taxes or assessments upon the property of or any property acquired or used by the authority under the provisions of this article or upon the income therefrom; and the bonds, notes, certificates or other evidences of borrowing 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 such city or county and any other municipality, county or other political subdivision of the Commonwealth.
(Code 1950, § 3-79.12; 1954, c. 407; 1966, c. 702.)
Sections: Previous 3.1-51 3.1-52 3.1-53 3.1-54 3.1-55 3.1-56 3.1-57 3.1-58 3.1-59 3.1-60 3.1-61 3.1-62 3.1-63 3.1-64 3.1-65 NextLast modified: April 2, 2009