South Carolina Statutes
§ 59-109-150 — Exemption from taxation.
South Carolina·Title 59 EDUCATION·Ch. 109 EDUCATIONAL FACILITIES AUTHORITY ACT FOR PRIVATE NONPROFIT INSTITUTIONS OF HIGHER LEARNING
The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of this State, for the increase of their commerce, welfare, and prosperity, and for the improvement of their health and living conditions, and as the operation and maintenance of a project by the authority or its agent or a participating institution for higher learning will constitute the performance of an essential public function, neither the authority nor its agent shall be required to pay any taxes or assessments upon or in respect of a project or any property acquired or owned by the authority under the provisions of this chapter or upon the income therefrom, and any bonds issued under the provisions of this chapter, their transfer, and the income therefrom, including any profit ma
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South Carolina § 59-109-150 (Exemption from taxation.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 22-41.14; 1969 (56) 444; 1993 Act No. 167, SECTION 11.
Nearby Sections
15
§ 59-109-10
Short title.§ 59-109-100
Trust agreement to secure bonds.§ 59-109-130
Monies received deemed trust funds.§ 59-109-140
Enforcement of rights of bondholders.§ 59-109-150
Exemption from taxation.§ 59-109-160
Bonds as legal investments.§ 59-109-170
Annual reports.§ 59-109-30
Definitions.§ 59-109-50
Purpose of authority; powers enumerated.§ 59-109-60
Expenses.