California Public Utilities Code 120701 – All bonds and other evidences of indebtedness issued by the board …
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All bonds and other evidences of indebtedness issued by the board under this chapter, and the interest thereon, are free and exempt from all taxation within the state, except for transfer, franchise, inheritance, and estate taxes.
(Added by Stats. 1983, Ch. 599, Sec. 2.)
Terms Used In California Public Utilities Code 120701
- board: means a county transit development board created pursuant to Chapter 2 (commencing with Section 120050). See California Public Utilities Code 120001
- State: means the State of California, unless applied to the different parts of the United States. See California Public Utilities Code 17