Sec. 66.25. TAX EXEMPT. The carrying out of the purposes of the constitutional provisions and of this subchapter will be performing an essential public function under the constitution, and all bonds and notes, whether original or refunding, heretofore or hereafter issued pursuant to the constitutional provisions or this subchapter, and their transfer and the income from them, including the profits made on their sale, shall at all times be free from taxation of this state.
Acts 1971, 62nd Leg., p. 3151, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.
Structure Texas Statutes
Subtitle C - The University of Texas System
Chapter 66 - Permanent University Fund
Subchapter B. Permanent University Fund Bonds and Notes
Section 66.22. Refunding Bonds and Notes
Section 66.23. Refunding Bonds and Notes: Approval; Registration
Section 66.24. Authorized Investments; Security for Deposits