All property received, purchased, contributed or donated to the board of trustees for the benefit of any endowment fund created hereunder and all donations, gifts and devises received or otherwise administered for the benefit of said endowment fund, as well as the principal and income from said endowment fund, shall at all times be free from taxation, of any nature whatsoever, within the State. ?(1961, c. 970; 1981, c. 423, s. 1; 2011-284, s. 81.)

Terms Used In North Carolina General Statutes 115C-494

  • board: means a city board of education, county board of education, or a city-county board of education. See North Carolina General Statutes 115C-5
  • property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
  • state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
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