§39-65  Undertaking, loan program,
and revenue bonds exempt from taxation.  So long as the State owns any
undertaking or administers a loan program, the property and revenue of the
undertaking or loan program shall be exempt from all state, county, and municipal
taxation; provided that any interest in property provided or given as security
for a loan made under a loan program shall not be or be deemed to be property
of a department for purposes of this section.  Revenue bonds issued pursuant to
this part and the income therefrom shall be exempt from all taxation by the
State or any county or other political subdivision thereof, except inheritance,
transfer, and estate taxes. [L 1988, c 28, pt of §3]