GroundRules
Ala. Code § 11-81-149: Exemption from Taxation of Undertakings, Bonds, Etc.
Where this section sits in the code
- Title 11 Counties and Municipal Corporations.
- Title 3 Provisions Applicable to Counties and Municipal Corporations.
- Chapter 81 Municipal and County Bonds.
- Article 4 Public Improvement Bonds.
- Division 2 Bonds for Certain Revenue-Producing Undertakings.
So long as the municipality or county shall own or possess any undertaking the property and revenue of such undertaking shall be exempt from all taxation. Bonds issued under this division and the income therefrom shall be exempt from all taxation.
Collected 2026-09-03T14:01:52Z. Source file · JSON