The property and income of the authority, all bonds issued by the authority, the income from such bonds, conveyances by or to the authority, and leases, mortgages and deeds of trust or trust indentures by or to the authority shall be exempt from all taxation in the State of Alabama. The authority shall be exempt from all taxes levied by any county, incorporated city or town, or other political subdivision of the state, including, but without limitation to, license and excise taxes imposed in respect of the privilege of engaging in any of the activities in which the authority may engage. The authority shall not be obligated to pay or allow any fees, taxes or costs to the judge of probate of any county of this state in respect of its incorporation or the recording of any document. Nothing in this section shall be construed to exempt any private person, firm or corporation from payment of any ad valorem, mortgage or deed taxes or recording fees notwithstanding the fact that the authority has acquired an interest in the property or instrument subject to such taxes or fees.
Structure Code of Alabama
Chapter 3A - Alabama Agricultural Development Authority.
Article 1 - General Provisons.
Section 2-3A-1 - Declaration of Purpose and Legislative Findings.
Section 2-3A-3 - Incorporation of Authority; Procedure.
Section 2-3A-5 - Officers of the Authority.
Section 2-3A-6 - Legislative Oversight Committee; Members; Expenses.
Section 2-3A-7 - Powers of Authority; Open Meetings.
Section 2-3A-8 - Bonds of the Authority.
Section 2-3A-9 - Proceeds From Sale of Bonds.
Section 2-3A-10 - Refunding Bonds.
Section 2-3A-11 - Exemption From Taxation.
Section 2-3A-12 - Exemption From Usury and Interest Laws.
Section 2-3A-14 - Dissolution of Authority and Vesting of Title to Its Property.