All bonds and the income therefrom issued by the corporation and all mortgages and deeds of trust executed as security therefor and all properties of the corporation of every kind and character shall be exempt from all taxation in the State of Alabama. Any such mortgage or deed of trust shall be admitted to record in the office of the judge of probate of any county in this state without the payment of any tax upon the debt secured thereby or any other fee or charge except the costs of recording the instrument at the rate fixed by law.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 50 - Public Utilities.
Article 16 - District Electric Corporations.
Section 11-50-520 - Definitions.
Section 11-50-521 - Authority to Incorporate.
Section 11-50-522 - Procedure for Incorporation.
Section 11-50-523 - Amendment of Certificate of Incorporation.
Section 11-50-524 - Corporate Powers.
Section 11-50-525 - Board of Directors.
Section 11-50-526 - Bonds - Sale or Issuance Generally.
Section 11-50-527 - Bonds - Consent of Department of Finance.
Section 11-50-528 - Bonds - Nature of Obligations.
Section 11-50-529 - Bonds - Rights and Remedies of Bondholders.
Section 11-50-530 - Rates and Charges for Services Rendered.
Section 11-50-531 - Exemption From Taxation.