Colorado § 41-3-107 Legal status of authorities - tax exemption

Colorado Statutes

§ 41-3-107 — Legal status of authorities - tax exemption

Colorado·Title 41 Aeronautics:·Art. Public Airport Authority Law

(1)An authority created pursuant to this article is hereby declared to be a political subdivision of the state, exercising essential governmental powers for a public purpose. The general assembly, therefore, finds:

(a)That no authority or county independently creating an authority is required to pay any general ad valorem taxes upon an airport or any facilities connected therewith located within the state nor upon the interest of the authority therein;

(b)That bonds issued under this article and the income therefrom are free and exempt from taxation by the state, or any political subdivision of the state, with the exception of transfer, inheritance, and estate taxes; and

(c)The tax exemptions specified in this section do not apply to any tenants or users of the airport that

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(1) An authority
created pursuant to this article is hereby declared to be a political subdivision of
the state, exercising essential governmental powers for a public purpose. The
general assembly, therefore, finds:

(a) That no authority or county independently creating an authority is
required to pay any general ad valorem taxes upon an airport or any facilities
connected therewith located within the state nor upon the interest of the authority
therein;

(b) That bonds issued under this article and the income therefrom are free
and exempt from taxation by the state, or any political subdivision of the state, with
the exception of transfer, inheritance, and estate taxes; and

(c) The tax exemptions specified in this section do not apply to any tenants
or users of the airport that an authority operates.

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