§ 18-18. Exemptions from taxation.  


Latest version.
  • As the special services authorized by this article are essential for the health of the inhabitants of such areas, and as the exercise of the powers conferred by this article to effect such purposes constitute the performance of essential governmental functions, and as improvements financed under the provisions of this article constitute public property and are used for governmental purposes, no taxes or assessments shall be levied upon any such improvement or any part thereof, whether located within or without the territorial boundaries of any district created under the provisions of this article, and all bonds issued under the provisions of this article, and their transfer and the income therefrom (including any profit made on the sale thereof) shall at all times be free from taxation within the State.

(Ord. No. 60-7, § 17, 2-9-60; Ord. No. 64-26, § 1, 7-7-64)