360.085. Income of authority tax exempt — bonds deemed to be securities issued by public instrumentality. — The authority is hereby declared to be performing a public function in behalf of the state and to be a public instrumentality of the state. Accordingly, the income of the authority and all properties at any time owned by the authority shall be exempt from all taxation in the state of Missouri. For the purposes of section 409.402, all bonds issued by the authority shall be deemed to be securities issued by a public instrumentality or political subdivision of the state of Missouri.
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(L. 1975 H.B. 70 § 15)
---- end of effective 28 Aug 1975 ----
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