Code of Alabama
Division 2 - Bonds for Certain Revenue-Producing Undertakings.
Section 11-81-149 - Exemption From Taxation of Undertakings, Bonds, Etc.

So long as the municipality or county shall own or possess any undertaking the property and revenue of such undertaking shall be exempt from all taxation. Bonds issued under this division and the income therefrom shall be exempt from all taxation.

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Structure Code of Alabama

Code of Alabama

Title 11 - Counties and Municipal Corporations.

Title 3 - Provisions Applicable to Counties and Municipal Corporations.

Chapter 81 - Municipal and County Bonds.

Article 4 - Public Improvement Bonds.

Division 2 - Bonds for Certain Revenue-Producing Undertakings.

Section 11-81-140 - Definitions.

Section 11-81-141 - Powers of Municipalities or Counties Generally; Provisions in Instruments or Deeds of Trust Creating Pledges, Mortgages, Liens, etc., for Payment of Bonds; Determination of Costs of Acquisition, Construction, etc., of Undertakings...

Section 11-81-142 - Authorization of Acquisition, Construction, etc., of Undertaking Taking and Issuance of Bonds in Anticipation of Revenues.

Section 11-81-143 - Covenants in Bond Authorization Resolutions; Enforcement of Provisions of Division and Bond Resolutions.

Section 11-81-144 - Form, Terms, Denominations, etc., of Bonds; Maturity and Sale; Execution and Delivery; Issuance of Revenue Refunding Bonds.

Section 11-81-145 - Evidence of Validity of Bonds.

Section 11-81-146 - Lien of Bonds.

Section 11-81-147 - Liability of Municipalities or Counties on Bonds.

Section 11-81-148 - Exercise of Municipal or County Taxing Power, etc., for Payment of Bonds.

Section 11-81-149 - Exemption From Taxation of Undertakings, Bonds, Etc.

Section 11-81-150 - Establishment, Collection, etc., of Rates, Fees, Tolls, etc., for Services, Facilities, etc., of Undertakings.