The corporation, the property and income of the corporation, all bonds issued by the corporation, the income from such bonds, conveyances by or to the corporation and leases, mortgages and deeds of trust by or to the corporation shall be exempt from all taxation in the State of Alabama.
No license or excise tax may be imposed on any corporation in respect of the privilege of engaging in any of the activities authorized by this chapter.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 60 - Public Park and Recreation Boards.
Section 11-60-1 - Definitions.
Section 11-60-2 - Legislative Intent; Construction of Chapter Generally.
Section 11-60-4 - Certificate of Incorporation - Contents; Execution and Acknowledgment.
Section 11-60-6 - Certificate of Incorporation - Amendment.
Section 11-60-7 - Board of Directors.
Section 11-60-8 - Powers of Corporations Generally; Location of Projects of Corporations.
Section 11-60-11 - Bonds - Security for Payment of Principal or Interest; Remedies Upon Default.
Section 11-60-14 - Disposition of Net Earnings of Corporations.
Section 11-60-17 - Exemptions of Corporations - Taxation.
Section 11-60-18 - Exemptions of Corporations - Usury and Interest Laws.
Section 11-60-19 - Exemptions of Corporations - Competitive Bid Laws.