Indiana Code 36-7-12-31. Bonds, notes, warrants, proceeds, and interest; exemption from state taxes

Sec. 31. Bonds, notes, or warrants issued under this chapter and:

(1) proceeds received from their sale by a holder, to the extent of the holder’s cost of acquisition;

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(2) proceeds received on their redemption before maturity;

(3) proceeds received at their maturity; and

(4) interest received on them;

are exempt from state taxes as provided by IC 6-8-5.

[Pre-Local Government Recodification Citation: 18-6-4.5-25.]

As added by Acts 1981, P.L.309, SEC.31. Amended by Acts 1982, P.L.28, SEC.11.