330A.16 Exemption from taxation.
The effectuation of the authorized purposes of an authority shall be in all respects for the benefit of the people of the state and the member municipalities, for the increase of their commerce and prosperity, and for the improvement of their welfare, health, and living conditions, and since an authority will be performing essential governmental functions in effectuating such purposes, an authority shall not be required to pay any taxes or assessments of any kind or nature whatsoever upon any property required or used by it for such purposes, or any rates, fees, rentals, receipts, or incomes at any time received by it, and the bonds issued by an authority, their transfer and the income therefrom (including any profits made on the sale thereof) shall at all times be free from taxation of any kind by the state, or any political subdivision or taxing agency or instrumentality thereof.
[C71, 73, 75, 77, 79, 81, §330A.16]
Referred to in §422.7(2)(p)
Structure Iowa Code
Chapter 330A - AVIATION AUTHORITIES
Section 330A.6 - Creation of an authority.
Section 330A.8 - Purposes and powers — general.
Section 330A.9 - Purposes and powers — bonds and notes.
Section 330A.10 - Funds of an authority.
Section 330A.11 - Transfer of existing facilities to authority.
Section 330A.12 - Award of contract.
Section 330A.13 - Acquisition of lands and property.
Section 330A.14 - Use of aviation facilities.
Section 330A.15 - Tax for purposes of an authority.
Section 330A.16 - Exemption from taxation.
Section 330A.17 - Statute complete and additional authority.
Section 330A.18 - Cooperation between municipalities and authorities.
Section 330A.19 - Eligibility as investments and security for public funds.