Statutes, codes, and regulations
Tennessee Code
Title 7 - CONSOLIDATED GOVERNMENTS AND LOCAL GOVERNMENTAL FUNCTIONS AND ENTITIESSPECIAL DISTRICTS
Chapter 89 - CONVENTION CENTER AUTHORITIES ACT OF 2009
Section 7-89-113 - Exemption from taxation - Bonds deemed to be securities issued by public instrumentality or political subdivision of state

Tenn. Code § 7-89-113

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Current through Acts 2023-2024, ch. 1069
Section 7-89-113 - Exemption from taxation - Bonds deemed to be securities issued by public instrumentality or political subdivision of state

The authority is declared to be performing a public function on behalf of the municipality with respect to which it is organized and to be a public instrumentality of the municipality. Accordingly, the authority and all properties at any time owned by it and the income from the properties and all bonds issued by the authority and the income from the bonds, shall be exempt from all taxation in the state. Also, for purposes of the Tennessee Securities Act of 1980, compiled in title 48, chapter 1, part 1, bonds issued by the authority shall be deemed to be securities issued by a public instrumentality or a political subdivision of the state.

T.C.A. § 7-89-113

Acts 2009, ch. 474, § 1.