45-1713. Exemption from taxation
76 words·~1 min read·
/az/title-45/45-1713A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The director and the authority shall be regarded as performing a governmental function in undertaking and carrying out the state water and power plan and shall be required to pay no taxes or assessments on any of the property thereof or upon their activities in the operation and maintenance thereof or upon the revenues therefrom. The bonds and notes, their transfer and the income therefrom shall at all times be free from taxation within the state.