§ 9-1-117. TAX EXEMPTIONS.

Latest version.

It is hereby found, determined, and declared that the establishment of the project or projects under the provisions of this article is in all respects for the benefit of the inhabitants of the county and of the state and is a public purpose and that the county and the authority will be performing an essential governmental function in the exercise of the powers conferred by this article, and the authority shall not be required to pay any taxes or assessments upon any facility or any part thereof or upon its activities in the operation and maintenance of any facility or upon any revenues therefrom, and the project or projects and the bonds of the authority, the interest thereon, and any gain realized from the sale or exchange thereof shall be and remain forever exempt from all state, municipal, and local taxation.

(1988 Code, § 30-17) (Bill No. 48-02, § 1, 7-1-2004)

                    
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