Kansas Statutes 68-2013. Exercise of governmental function; bonds and income from projects and property exempt from taxation
Terms Used In Kansas Statutes 68-2013
- Authority: means the Kansas turnpike authority, created by Kan. See Kansas Statutes 68-2001
- Property: includes personal and real property. See Kansas Statutes 77-201
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
- turnpike project: means any express highway or superhighway constructed under the provisions of this act, including all bridges, tunnels, overpasses, underpasses, interchanges, entrance plazas, approaches, toll houses, service stations, and administration, storage and other buildings and facilities that the authority may deem necessary for the operation of such project, together with all property, rights, easements, and interests that may be acquired by the authority for the construction or the operation of such project. See Kansas Statutes 68-2001
The exercise of the powers granted by this act will be in all respects for the benefit of the people of the state, for the increase of their commerce and prosperity, and for the improvement of their health and living conditions, and as the operation and maintenance of turnpike projects by the authority will constitute the performance of essential governmental functions, the authority shall not be required to pay any taxes or assessments upon the income derived from any turnpike project or property acquired or used by the authority under the provisions of this act. Any bonds issued under the provisions of this act, their transfer and the income therefrom (including any profit made on the sale thereof) shall at all times be free from taxation within the state.