§ 45-59-23 - Exemption from taxation. - Rhode Island Statutes

SECTION 45-59-23

   § 45-59-23  Exemption from taxation. –(a) Any notes or other obligations issued by any district management authority,their transfer and the income from the notes or obligations (including anyprofits made on the sale of the notes or obligations), will at all times befree from taxation by the state or any political subdivision or otherinstrumentality of the state.

   (b) The exercise of the powers granted by this chapter willbe in all respects for the benefit of the people of this state and of themunicipalities within which the district management authorities will undertaketheir activities, the increase of their commerce, welfare and prosperity andfor the improvement of their health and living conditions and will constitutethe performance of essential governmental functions and the district managementauthorities will not be required to pay any real or personal property taxes orassessments upon or in respect of any property owned by them levied by anymunicipality or other political subdivision of the state.