N.J.S.A. 40:48H-7 — Bond proceeds, certain, exempt from taxation.

40:48H-7 Bond proceeds, certain, exempt from taxation. 25. All bonds issued pursuant to section 24 of P.L.2009, c.90 (C.40:48H-6) are hereby declared to be issued by a political subdivision of this State and for an essential public and governmental purpose and the bonds, and the interest thereon and the income therefrom, and all facility charges, funds, revenues, and other moneys pledged or available to pay or secure the payment of the bonds, or interest thereon, shall at all times be exempt from taxation except for transfer inheritance and estate taxes. L.2009, c.90, s.25.

This is the verbatim text of N.J.S.A. 40:48H-7, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.