§ 20-4-103. EXEMPTION FROM TAXATION; MAXIMUM AMOUNT TO BE OUTSTANDING; REFERENDUM NOT REQUIRED.

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The bonds issued pursuant to this title and the interest payable thereon shall be and remain exempt from state, county, and municipal taxation. At no time shall the total issue of bonds outstanding for any purpose under this title, exceed 3.2 percent of the total assessable basis for county taxation purposes within the metropolitan district. Whenever the county shall propose to borrow any sum of money pursuant to the authority contained in this title, such power may be exercised and bonds or certificates of indebtedness may be issued therefor without submitting such proposal or such issue at a referendum of the registered voters of the county for their approval or rejection.

(1988 Code, § 35-253) (Bill No. 126, § 2, 9-28-1990; Bill No. 49-96, § 21, 7-1-1996; Bill No. 30-03, § 1, 7-1-2004; Bill No. 74-06, § 2, 7-1-2006)

                    
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