2009 New Jersey Code
TITLE 27 - HIGHWAYS
Section 27:1B
27:1B-16 - Tax exemption;  property of authority;  bonds, notes or other obligations

27:1B-16.  Tax exemption;  property of authority;  bonds, notes or other obligations     All property of the authority is declared to be public property devoted to an essential public and governmental function and purpose and shall be exempt from all taxes and special assessments of the State or any political subdivision thereof.  All bonds, notes or other obligations issued pursuant to the act are hereby declared to be issued by a body corporate and politic of the  State and for an essential public and governmental purpose and the bonds, notes  and other obligations, and the interest thereon and the income therefrom, and  all funds, revenues, income and other moneys received or to be received by the  authority and pledged or available to pay or secure the payment of the bonds,  notes and other obligations, or interest thereon, shall at all times be exempt  from taxation, except for transfer inheritance and estate taxes.

     L.1984, c. 73, s. 16, eff. July 10, 1984.