§7-12-10. Property, bonds and obligations of authority exempt from
The authority shall be exempt from the payment of any taxes or
fees to the state or any subdivision thereof or to any officer or
employee of the state or other subdivision thereof. The property
of the authority shall be exempt from all local and municipal
taxes. Bonds, notes, debentures and other evidence of indebtedness
of the authority are declared to be issued for a public purpose and
to be public instrumentalities, and shall be exempt from taxes.