(a) The exercise of the powers granted by the provisions of this subtitle shall be for the benefit of the students who attend the public schools under the board and for the improvement of their education, prosperity, health, living conditions, and general welfare.
(b) The board shall not be required to pay any taxes or assessments of any kind whatsoever and its bonds, their transfer, the interest payable on them, and any income derived from them, including any profit realized in their sale or exchange, shall be exempt at all times from every kind and nature of taxation by the State or by any of its political subdivisions, municipal corporations, or public agencies of any kind.
Structure Maryland Statutes
Division II - Elementary and Secondary Education
Title 4 - Local School Administration
Section 4-302 - Establishment and Maintenance of Free Public Schools
Section 4-303 - Baltimore City Board of School Commissioners
Section 4-304 - Chief Executive Officer
Section 4-305 - Chief Academic Officer
Section 4-306 - Chief Financial Officer
Section 4-306.1 - Additional Powers of Board
Section 4-306.2 - Bonds for Costs of Projects
Section 4-306.3 - Purpose; Exemption From Taxation
Section 4-306.4 - Investment Securities
Section 4-306.5 - Property Acquired Held in Accordance With State Law
Section 4-306.6 - Construed; Severability
Section 4-307 - Research and Evaluation Unit
Section 4-308 - Parent and Community Advisory Board
Section 4-310 - Procurement of Goods and Services
Section 4-312 - Collective Bargaining Agreements
Section 4-314 - Geographical Boundary
Section 4-315 - Power to Tax and Protect School Property
Section 4-316 - Powers and Duties of Board of School Commissioners
Section 4-317 - Notice of Studies to Close Public Schools
Section 4-318 - Baltimore City School Police Force