2014 Virginia Code
Title 33.2 - Highways and Other Surface Transportation Systems
§ 33.2-2217. (Effective October 1, 2014) Governmental function
It is hereby found, determined, and declared that the creation of the District and the carrying out of its corporate purposes is in all respects for the benefit of the people of the Commonwealth and is a public purpose and that the District and the Commission will be performing an essential governmental function in the exercise of the powers conferred by this chapter, and the Commonwealth covenants with the holders of the bonds issued under the provisions of this chapter that the District shall not be required to pay any taxes or assessments upon any of the property acquired by it or under its jurisdiction, control, possession, or supervision or upon its activities in the operation and maintenance of the project or upon any revenues therefrom, and the project and the bonds issued in connection therewith and the income derived therefrom shall be exempt from all state and local taxation.
1954, c. 693; 2014, c. 805.
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