Sec. 20.115. TAX EXEMPT. Since the authority is performing an essential governmental function in the exercise of the powers conferred on it by this chapter, the bonds issued under this Act, and the interest and income from the bonds, including any profit made on the sale of bonds, and all fees, charges, gifts, grants, revenues, receipts, and other money received or pledged to pay or secure the payment of bonds are free from taxation and assessments of every kind by this state and any city, county, district, authority, or other political subdivision of this state.
Added by Acts 1987, 70th Leg., ch. 728, Sec. 1, eff. June 20, 1987.
Structure Texas Statutes
Title 2 - Water Administration
Subtitle C - Water Development
Chapter 20 - Texas Water Resources Finance Authority
Section 20.101. Issuance of Bonds
Section 20.102. Conditions for Issuance of Bonds
Section 20.103. Periodic Determination of Interest
Section 20.104. Persons Designated to Act as Agents of Board
Section 20.105. Security Qualifications
Section 20.106. Investment Securities
Section 20.109. Resolutions, Orders, Etc
Section 20.110. Approval of Attorney General
Section 20.111. Bond Review Board
Section 20.112. Refunding Bonds
Section 20.113. Eligible Security
Section 20.114. Legal Investments
Section 20.116. Pledge of State Faith and Credit; Covenant With Owners of Bonds