Statutes, codes, and regulations
Code of Alabama
Title 11 - COUNTIES AND MUNICIPAL CORPORATIONSSubtitle 3 - PROVISIONS APPLICABLE TO COUNTIES AND MUNICIPAL CORPORATIONSChapter 81 - MUNICIPAL AND COUNTY BONDSArticle 4 - PUBLIC IMPROVEMENT BONDS
Division 2 - BONDS FOR CERTAIN REVENUE-PRODUCING UNDERTAKINGS
Section 11-81-149 - Exemption from taxation of undertakings, bonds, etc

Ala. Code § 11-81-149

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Current with legislation from 2024 effective through May 17, 2024.
Section 11-81-149 - Exemption from taxation of undertakings, bonds, etc

So long as the municipality or county shall own or possess any undertaking the property and revenue of such undertaking shall be exempt from all taxation. Bonds issued under this division and the income therefrom shall be exempt from all taxation.

Ala. Code § 11-81-149 (1975)

Acts 1935, No. 154, p. 195; Code 1940, T. 37, §350.