§ 45-54-7. Exemption from taxation.
The exercise of the powers granted by this chapter will be in all respects for the
benefit of the people of the state and for the facilitation of the conduct of their
public business, and as the acquisition, construction, operation, and maintenance
by the corporation of the projects defined in this chapter will constitute the performance
of essential governmental functions, the corporation is not required to pay any taxes
or assessments upon the projects or upon any property acquired, or upon the income
from the projects, or any other state or local tax of any kind or description, nor
is the corporatio
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§ 45-54-7. Exemption from taxation.
The exercise of the powers granted by this chapter will be in all respects for the
benefit of the people of the state and for the facilitation of the conduct of their
public business, and as the acquisition, construction, operation, and maintenance
by the corporation of the projects defined in this chapter will constitute the performance
of essential governmental functions, the corporation is not required to pay any taxes
or assessments upon the projects or upon any property acquired, or upon the income
from the projects, or any other state or local tax of any kind or description, nor
is the corporation required to pay any recording fee or transfer tax of any kind or
description, and the bonds, issued under the provisions of this chapter, their transfer,
and the income from them (including any profit made on the sale) at all time free
from taxation by the state, or any political subdivision or other instrumentality
of the state, excepting estate taxes, and the corporation shall pay property taxes
and assessments on its properties located outside the boundaries of the city or town
whose council established the corporation.