§ 11-54A-14 — Exemption from Taxation

Alabama § 11-54A-14

• Jurisdiction: Alabama
• Title 11: Counties and Municipal Corporations
• Ch. 54A: Downtown Redevelopment Authorities

Text

The authority formed under this chapter, the property and income of the authority (whether used by it or leased to others), all bonds issued by the authority, the income from such bonds or from other sources, the interest and other profits from such bonds enuring to and received by the holders thereof, conveyances by and to the authority and leases, mortgages and deeds of trust by and to the authority shall be exempt from all taxation in the state. The authority shall not be obligated to pay any fees, taxes or costs to the judge of probate of any county in connection with its incorporation or with any amendment to its certificate of incorporation or otherwise or to any judge of probate of any county in connection with the recording by it of any document or otherwise, the authority being hereby exempted from the payment of any such fees, taxes and costs. No license or excise tax may be imposed by any authority with respect to the privilege of engaging in any of the activities authorized by this chapter.

Legislative History

(Acts 1985, No. 85-683, p. 1080, §14.)