The bonds authorized by this article and the income therefrom, all mortgages executed as security therefor, all lease agreements made pursuant to the provisions of this article, any deeds or other documents whereby properties are acquired by a municipality under authority of this article and all projects and the revenue derived from any lease thereof shall be exempt from all taxation in the State of Alabama.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 54 - Promotion of Industry, Trade, Commerce and Pollution Control.
Section 11-54-50 - Definitions.
Section 11-54-51 - Legislative Intent; Construction of Article Generally.
Section 11-54-53 - Requirements as to Leasing of Projects.
Section 11-54-55 - Bonds - Security for Payment of Principal and Interest.
Section 11-54-56 - Bonds - Disposition of Proceeds From Sale.
Section 11-54-57 - Refunding Bonds.
Section 11-54-59 - Investment in Bonds by Savings Banks and Insurance Companies.
Section 11-54-61 - Exemption From Taxation of Projects, Bonds, Etc.