Section 3019. Exemption from taxation

1. It is hereby determined that the
  creation of a corporation and the carrying out of its corporate  purpose
  is  in all respects a public and governmental purpose for the benefit of
  the people of the state and for the improvement of their health, safety,
  welfare, comfort  and  security,  and  that  said  purposes  are  public
  purposes  and  that  a  corporation  will  be  performing  an  essential
  governmental function in the exercise of the powers conferred upon it by
  this act.
    2. The property of a corporation and its income and  operations  shall
  be exempt from taxation.
    3.  The  notes and bonds of a corporation issued pursuant to authority
  granted in the special act creating  it  or  this  act  and  the  income
  therefrom  and  all its fees, charges, gifts, grants, revenues, receipts
  and other moneys received or to be received, pledged to pay,  or  secure
  the  payment  of,  such  notes  or bonds shall at all times be free from
  taxation, except for estate and gift taxes and taxes on transfers.