Section 2444. Exemption from taxation of bonds, notes and tax lien collateralized securities  


Latest version.
  • It is hereby determined that the creation  of  the  agency  is  in  all  respects  for the benefit of the people of the
      state, for the improvement of their health  and  welfare,  and  for  the
      promotion of the economy, and that said purposes are public purposes and
      the  agency will be performing an essential governmental function in the
      exercise of the powers conferred upon it by this title,  and  the  state
      covenants with the purchasers and all subsequent holders and transferees
      of  bonds,  notes,  and tax lien collateralized securities issued by the
      agency and its tax lien entity, in consideration of  the  acceptance  of
      and payment for the bonds, notes, and tax lien collateralized securities
      that  the  bonds,  notes  and  tax lien collateralized securities of the
      agency, and its tax lien entity, issued pursuant to this title  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  bonds,  notes  or  tax  lien  collateralized
      securities  shall  at all times be free from taxation, except for estate
      or gift taxes and taxes on transfers.