17-2349.   Municipal housing; exemption from special assessments;payments in lieu of taxes.The property acquired or held pursuant to this act is declared to bepublic property used exclusively for essential city, municipal public andgovernmental purposes and such property shall be exempt from all specialassessments of the state or of any state public body. In lieu of taxes onsuch property a municipality or authority shall agree to make payments tothe state or a state public body (including itself) as it finds consistentwith the maintenance of the low-rent character of housing projects and theachievements of the purposes of this act.

      History:   L. 1957, ch. 132, § 13; L. 1968, ch. 70,§ 3; L. 1973, ch. 96, § 9; L. 1975, ch. 495, § 10; July 1.