13:17-28. Exemption of bonds and notes from taxation
123 words·~1 min read·
/nj/title-13/chapter-17/13-17-28·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
All bonds or notes issued by the commission pursuant to this act are hereby declared to be issued by a political subdivision of this State and for an essential public and governmental purpose, and such bonds and notes, their transfer and the interest and premium, if any thereon and the income therefrom, including any profit made on the sale thereof, and all assessments, charges, funds, revenues, income and other moneys pledged or available to pay or secure the payment of such bonds or notes, or interest thereon, shall at all times be exempt from taxation of every kind by the State and by the municipalities and other political subdivisions in the State, except transfer, inheritance and estate taxes.
L.1968, c. 404, s. 27.