175.560 Turnpike properties and bonds are tax-exempt. - Kentucky Statutes

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175.560 Turnpike properties and bonds are tax-exempt. The exercise of the powers granted by this chapter will be in all respects for the benefit of
the people of the Commonwealth, for the increase of their commerce and prosperity, and
for the improvement of their health and living conditions, and as the operation and
maintenance of a turnpike project or projects by the authority will constitute the
performance of essential governmental functions, the authority shall not be required to
pay any taxes or assessments upon any turnpike project or any property acquired or used
by the authority under the provisions of this chapter or upon the income therefrom, and
the bonds issued under the provisions of this chapter, their transfer and the income
therefrom (including any profit made on the sale thereof) shall at all times be free from
taxation within the Commonwealth. Effective: March 25, 1960
History: Created 1960 Ky. Acts ch. 173, sec. 16, effective March 25, 1960.