Section 43-4-711 - Exemption from taxation

Except as otherwise provided in this section, the income from revenue anticipation notes is exempt from all taxation and assessments in the state. In the certificate, indenture of trust, or other instrument authorizing the issuance of such notes, the executive director may waive the exemption from federal or state income taxation for interest on the notes.L. 99: Entire part added, p. 1117, § 1, effective June 2.