15.2-4912 - Exemption from taxation. - Virginia Statutes

§ 15.2-4912. Exemption from taxation.

The authority is hereby declared to be performing a public function in behalfof the locality with respect to which the authority is created and to be apublic instrumentality of such locality. Accordingly, the income, includingany profit made on the sale thereof from all bonds issued by the authority,shall at all times be exempt from all taxation by the Commonwealth or anypolitical subdivision thereof.

(1966, c. 651, § 15.1-1383; 1997, c. 587.)