The State covenants with the purchasers and with all subsequent holders, owners and transferees of bonds, in consideration of the acceptance of and payment for the bonds, that the bonds (which include interest thereon), and their transfer, shall be exempt from taxation by the State and its political subdivisions, except for estate, inheritance or gift taxes.
Notwithstanding the foregoing, the Authority may elect to issue bonds, the interest on which is subject to federal income taxation.
Any real or personal property of the Authority and all revenues of the Authority shall be exempt from any and all taxation by the State or any political subdivision thereof for any purpose.
Structure Delaware Code
Chapter 13. DELAWARE TRANSPORTATION AUTHORITY
§ 1302. Legislative findings and determinations.
§ 1304. Established; Director.
§ 1305. Turnpike maintenance and operations.
§ 1306. Aeronautics within the Department.
§ 1314. Authorization of state highway projects.
§ 1315. Credit of State not pledged to Authority bonds.
§ 1316. Bonds as legal investments; legal deposit.
§ 1317. Revenues as trust funds; pledge or assignment of revenues; security interest.
§ 1318. Certain contract with bondholders.
§ 1319. Exemption from taxation.
§ 1320. Special provisions relating to Delaware Turnpike.
§ 1321. Limitation on jurisdiction of political subdivisions.
§ 1322. Conveyance to Authority.
§ 1323. Audit of books and accounts.
§ 1324. Damage to private property.
§ 1325. Employees of the Delaware Transit Corporation and subsidiaries.
§ 1325A. Status of former DTA employees.
§ 1326. John F. Kennedy Memorial Highway.
§ 1327. Operation of service stations.
§ 1328. Application of state Freedom of Information Act.
§ 1329. Liability of Authority [Effective until Apr. 14, 2023].
§ 1329. Liability of Authority [Effective Apr. 14, 2023].