360.135. Authority to be tax exempt--proceeds of bonds tax exempt, exception. - Missouri Statutes

Authority to be tax exempt--proceeds of bonds tax exempt, exception.

360.135. 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 authority shallnot be required to pay any taxes or assessments upon or inrespect of a project or any property acquired or used by suchauthority under the provisions of sections 360.010 to 360.140, orupon the income therefrom, and the bonds issued under theprovisions of this chapter, the interest thereon, the proceedsreceived by a holder from the sale of the bonds to the extent ofthe holder's cost of acquisition, or proceeds received uponredemption prior to maturity or proceeds received at maturity,and the receipt of such interest and proceeds shall be exemptfrom taxation in the state of Missouri for all purposes exceptthe state estate tax.

(L. 1975 H.B. 70 § 28)