2011 Kentucky Revised Statutes
CHAPTER 224A KENTUCKY INFRASTRUCTURE AUTHORITY
224A.210 Tax-exempt nature of authority property and bonds.
Download pdf
Loading PDF...
<![CDATA[224A.210 Tax-exempt nature of authority property and bonds.
(1)
(2)
The exercise by the authority of the powers, duties, and responsibilities granted and
created by this chapter will be in all respects for the benefit of the citizens of the
state, for the preservation, improvement, and enhancement of their health, safety,
convenience, and welfare, for the enhancement of their residential, agricultural,
recreational, economic, commercial, and industrial opportunities, and for the
preservation of the natural resources of the state, and will thereby constitute the
performance of essential public purposes and governmental functions by the
authority.
As the authority will in all respects be performing essential governmental and
public functions, said authority shall not be required to pay any taxes or assessments
upon any of its property, real, personal, or mixed, nor upon the income therefrom,
and revenue bonds or notes issued under this chapter, the income thereon, and the
transfer thereof, including any profit made on the sale thereof, shall at all times be
exempt from taxation or assessment of any type by the state, its agencies and
cabinets, and by all political subdivisions within the state.
History: Created 1972 Ky. Acts ch. 329, sec. 21.
]]>
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
