Arizona Laws 45-1713. Exemption from taxation
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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.
Terms Used In Arizona Laws 45-1713
- Authority: means the Arizona power authority created pursuant to Title 30, Chapter 1. See Arizona Laws 45-1702
- Director: means the director of water resources, who is also the director of the department. See Arizona Laws 45-101
- notes: means bonds and notes, respectively, of the authority issued pursuant to this article. See Arizona Laws 45-1702
- Power: means electric power or electric energy or both. See Arizona Laws 45-1702
- Property: includes both real and personal property. See Arizona Laws 1-215
- State: means the state of Arizona. See Arizona Laws 45-1702