360.085. Income of authority tax exempt--bonds deemed to be securities issued by public instrumentality. - Missouri Statutes

Income of authority tax exempt--bonds deemed to be securitiesissued by public instrumentality.

360.085. The authority is hereby declared to be performing apublic function in behalf of the state and to be a publicinstrumentality of the state. Accordingly, the income of theauthority and all properties at any time owned by the authorityshall be exempt from all taxation in the state of Missouri. Forthe purposes of section 409.402, RSMo, all bonds issued by theauthority shall be deemed to be securities issued by a publicinstrumentality or political subdivision of the state ofMissouri.

(L. 1975 H.B. 70 § 15)