§9205. Tax exemption








1. Bonds or notes. 
All bonds, notes or other evidences of indebtedness issued under this chapter are
issued by a political subdivision or a body corporate and politic of the State and
for an essential public and governmental purpose. Those bonds, notes or other evidences
of indebtedness, the interest on them and the income from them, including any profit
on their sale, and all activities of the corporation and fees, charges, funds, revenue,
income and other money of the corporation, whether or not pledged or available to
pay or secure the payment of those bonds, notes or other evidences of indebtedness
or interest on them, are exempt from all taxation franchise fees or special assessments
of whatever kind except for transfer, inheritance and estate taxes.


[
1999, c. 513, §6 (NEW)
.]








2. Property taxes. 
All real and personal property acquired by the corporation is subject to taxes to
the same extent as real and personal property owned by other electric utilities.


[
1999, c. 513, §6 (NEW)
.]





SECTION HISTORY

1999, c. 513, §6 (NEW).