2016 Mississippi Code
Title 51 - Waters, Water Resources, Water Districts, Drainage, and Flood Control
Chapter 11 - Pearl River Basin Development District
§ 51-11-79. Exemption of district from taxes or assessments on project
The accomplishment of the purposes of Sections 51-11-53 through 51-11-85 are for the benefit of the people of this state and for the improvement of their properties and industries, therefore the district, in carrying out the purposes of Sections 51-11-53 through 51-11-85, will be performing an essential public function and shall not be required to pay any tax or assessment on the project and related facilities or any part of the project or related facilities. The interest on the bonds issued under Sections 51-11-53 through 51-11-85 shall at all times be free from any taxation within this state. The state covenants with the holders of any bonds to be issued under Sections 51-11-53 through 51-11-85 that the district shall not be required to pay any taxes or assessments imposed by the state or any of its political subdivisions or taxing districts.
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