52:18A-70 - Exemption from taxation - New Jersey Statutes

52:18A-70.  Exemption from taxation    The exercise of the powers granted by this act will be in all respects for the benefit of the people of the State, and as the operation and maintenance of  projects by the Authority will constitute the performance of a governmental  function, the Authority shall not be required to pay any taxes or assessments  upon any project acquired or used by the Authority under the provisions of this  act or upon the income therefrom, and any project and any property acquired or  used by the Authority under the provisions of this act and the income  therefrom, and the bonds issued under the provisions of this act, their  transfer and the income therefrom (including any profit made on the sale  thereof) shall be exempt from taxation.

     L.1950, c. 255, p. 892, s. 21.