23-30.53 - Exemption from taxation. - Virginia Statutes

§ 23-30.53. Exemption from taxation.

The exercise of the powers granted by this chapter will be in all respectsfor the benefit of the people of this Commonwealth, for the increase of theircommerce, welfare and prosperity, and for the improvement of their health andliving conditions, and as the operation and maintenance of a project by theAuthority or its agent will constitute the performance of an essential publicfunction, neither the Authority nor its agent shall be required to pay anytaxes or assessments upon or in respect of a project or any property acquiredor used by the Authority or its agent under the provisions of this chapter orupon the income therefrom, and any bonds issued under the provisions of thischapter, their transfer and the income therefrom, including any profit madeon the sale thereof, shall at all times be free from taxation of every kindby the Commonwealth and by the municipalities and other politicalsubdivisions in the Commonwealth.

(1972, c. 686.)