40A:67-18 Regional rehabilitation, reentry center, satellite facilities, public property.
161 words·~1 min read·
/nj/title-40a/chapter-67/40a-67-18A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
18. The center, any satellite facilities, and any associated property or projects owned by an authority, including any pro rata share of any property that is owned by an authority in conjunction with any other person or public agency and used in connection with a center shall be public property and devoted to an essential public and governmental function and purpose, and the property, an authority, and its income shall be exempt from taxes and special assessments of the State or any subdivision of the State.
The bonds issued by the authority shall be for an essential public and governmental purpose and to be a public instrumentality in the bonds, and the interest and the income and funds, revenues, and other monies pledged or available to pay or secure the payment of the bonds, or interest, shall be exempt from taxation except for transfer, inheritance and estate taxes, and taxes on transfers by or in contemplation of death.
L.2023, c.346, s.18.