Section 37-13-16 Bonds of authority - Exemption from taxation. - Alabama Statutes

Section 37-13-16

Bonds of authority - Exemption from taxation.

The bonds issued by an authority and the income therefrom shall be exempt from all taxation in the state. All property and income of an authority shall be exempt from all state, county, municipal and other local taxation; provided, however, that this exemption shall not be construed to exempt concessionaires, licensees, tenants, operators or lessees of the authority from the payment of any taxes, including licenses or privilege taxes levied by the state, any county or any municipality in the state.

(Acts 1984, No. 84-179, p. 256, §16; Acts 1990, No. 90-546, p. 852, §1.)