                                 CODE OF VIRGINIA

EXEMPTION FROM TAXATION (§ 15.2-4912)

The authority is hereby declared to be performing a public function in behalf of
the locality with respect to which the authority is created and to be a public
instrumentality of such locality. Accordingly, the income, including any profit
made on the sale thereof from all bonds issued by the authority, shall at all
times be exempt from all taxation by the Commonwealth or any political
subdivision thereof.

HISTORY: 1966, c. 651, § 15.1-1383; 1997, c. 587.