§ 160A-562. Tax contract by the State. - North Carolina Statutes

§ 160A‑562.  Taxcontract by the State.

The State of North Carolina covenants with the purchasers and with allsubsequent holders and transferees of bonds issued by the authority pursuant tothis Article, in consideration of the acceptance of and payment for the bonds,that the bonds of the authority issued pursuant to this Article and the incometherefrom, and all moneys, funds and revenues pledged to pay or secure thepayment of such bonds, shall at all times be free from taxation except fortransfer and estate taxes. (1951, c. 779, s. 17; 1979, 2nd Sess., c. 1247, s. 44.)