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2012 Statute



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68-2081.Exercise of governmental function; bonds and income from projects and property exempt from taxation. The exercise of the powers granted by this act will be in all respects for the benefit of the people of the state, for the increase of their commerce and prosperity, and for the improvement of their health and living conditions, and as operation and maintenance of highway projects 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 income derived from any highway project or property acquired or used by the authority under the provisions of this act or the transfer thereof (including any profit made on the sale thereof). All bonds issued under the provisions of this act and all sales, transfers, and income of or from such bonds shall at all times be free from taxation within the state.

History: L. 1972, ch. 249, § 12; L. 1975, ch. 495, §17; July 1.



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2019. Powered by KLISS. Rendered: 2019-09-16T19:11:55. Head Rev No: 345400