KRS 56.869: Tax exemptions for notes issued by the commission -- Negotiability of notes.

Interest on all funding notes, project notes, and tax and revenue anticipation notes issued

by the commission shall be exempt from income taxation and the funding notes, project

notes, and tax and revenue anticipation notes shall be exempt from ad valorem taxation

by the Commonwealth and its political subdivisions. All funding notes, project notes, and

tax and revenue anticipation notes issued pursuant to KRS 56.860 to 56.869 shall be

negotiable instruments.