North Carolina Statutes
§ 159B-26 — Tax exemption
North Carolina·Ch. 159B Joint Municipal Electric Power and Energy Act·Art. 2 Joint Agencies; Municipalities
Bonds shall at all times be free from taxation by the State or any political subdivision or any of their agencies, excepting inheritance or gift taxes, income taxes on the gain from the transfer of the bonds, and franchise taxes. The interest on the bonds is not subject to taxation as income. (1975, c. 186, s. 1; 1995, c. 46, s. 18.)
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Nearby Sections
15
§ 159B-1
Short title§ 159B-14
Bonds of a joint agency§ 159B-15
Issuance of bonds§ 159B-16
Resolution or trust agreement§ 159B-16.1
Revenues - NCEMPA members§ 159B-17
Revenues - other municipalities§ 159B-18
Trust funds; investment authority§ 159B-19
Remedies§ 159B-21
Bonds eligible for investment