Vermont Statutes Title 24 Sec. 4624
Terms Used In Vermont Statutes Title 24 Sec. 4624
- Bank: means the Vermont Bond Bank established by section 4571 of this title. See
- Bonds: means bonds of the Bank issued under this chapter. See
- Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
- Notes: means any notes of the Bank issued under this chapter. See
- Revenues: means all fees, charges, monies, profits, payments of principal of or interest on municipal bonds and revenue bonds and other investments, gifts, grants, contributions, appropriations, and all other income derived or to be derived by the Bank under this chapter. See
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 4624. Tax exemption
All property of the Bank is public property devoted to an essential public and governmental function and purpose and is exempt from all taxes and special assessments of the State or any subdivision thereof. All bonds or notes issued under this chapter are issued by a body corporate and public of this State and for an essential public and governmental purpose and those bonds and notes, and the interest thereon and the income therefrom, and all fees, charges, funds, revenues, income, and other monies pledged or available to pay or secure the payment of those bonds or notes, or interest thereon, are exempt from taxation except for transfer inheritance and estate taxes. (Added 1969, No. 216 (Adj. Sess.), § 3, eff. March 27, 1970.)