15-9-122. Bonds; provisions inapplicable; tax exemption.
(a) Revenue bonds issued under this chapter:
(i) Do not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction;
(ii) Are not subject to the provisions of any other law or charter relating to the authorization, issuance or sale of bonds.
(b) Bonds issued under this chapter are for an essential public and governmental purpose and, together with interest thereon and income therefrom, are exempt from all taxes.
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