§ 159I-23. Tax exemption. - North Carolina Statutes

§ 159I‑23.  Taxexemption.

All of the bonds and notes authorized by this Chapter shall be exemptfrom all State, county, and municipal taxation or assessment, direct orindirect, general or special, whether imposed for the purpose of generalrevenue or otherwise, excluding inheritance and gift taxes, income taxes on thegain from the transfer of the bonds and notes, and franchise taxes. Theinterest on the bonds and notes shall not be subject to taxation as income. (1989, c. 756, s. 1; 1995, c. 46, s. 19.)