Section 31-25-632 - Exemption from taxation - securities laws

The income or other revenues of the district, any property owned by the district, any bonds issued by the district, and the transfer of and any income from any bonds issued by the district shall be exempt from all taxation and assessments by the state. In the resolution authorizing the bonds, the district may waive the exemption from federal income taxation for any interest on the bonds.L. 99: Entire section added, p. 524, § 27, effective April 30.