Tax Exemptions

Bonds issued pursuant to the provisions of this Chapter and the interest or income therefrom are exempt from taxation in accordance with the provisions of the last sentence of § 11 of the Organic Act. The exercise of the powers granted by this Chapter will be in all respects for the benefit of the people of the Territory and will promote their health and welfare, and the Board shall not be required to pay tax or assessment on any property owned by the Board under the provisions of this Chapter or upon the income therefrom.