19-2862i. Same; property, bonds and income exempt from taxation.
19-2862i
19-2862i. Same; property, bonds and income exempt from taxation.
The exercise of the powers granted by this act will be in all respect
for the benefit of the people of the district, for the improvement of their
health and living conditions, and as the operation and maintenance of golf
courses and related facilities by the board will constitute the performance
of essential governmental functions, the authority shall not be required to
pay any taxes or assessments upon any property so acquired or used by the
board under the provisions of this act or upon the income therefrom, and
any bonds issued under the provisions of this act, their transfer and the
income therefrom (including any profit made on the sale thereof) shall at
all times be free from taxation within the state.
History: L. 1968, ch. 227, § 10; July 1.