§8-27-20. Exemption from taxation.
It is hereby found, determined and declared that the creation
of any authority and the carrying out of its purposes is in all
respects for the benefit of the people of this state in general,
and of the participating governments in particular, and is a public
purpose; and that the authority will be performing an essential
governmental function in the exercise of the powers conferred upon
it by the provisions of this article. Accordingly, each authority
and, without limitation, its revenues, properties, operations and
activities shall be exempt from the payment of any taxes or fees to
the state or any of its political subdivisions or to any officer or
employee of the state or any of its political subdivisions.
Property, real and personal, owned by or leased and used
exclusively by each authority shall be public property and
therefore exempt from taxation in accordance with section nine,
article three, chapter eleven of this code. The revenue bonds or
other evidences of indebtedness issued pursuant to the provisions
of this article, and the interest thereon, shall be exempt from
taxation, except inheritance and transfer taxes.