§ 10. Tax exemption.  

Latest version.
  • The provisions of this act are intended to implement the provisions of § 10, Article VII of the State Constitution and in establishing a joint electric supply project pursuant to this act, JEA may give, lend or use its credit to aid any joint participant in such project but the City of Jacksonville may not give, lend, or use its taxing power, or its full faith and credit, to aid any joint participant in such project. Any bonds issued pursuant to the provisions of this act, and the interest thereon, shall be exempt from any and all taxation by the State of Florida, any law to the contrary notwithstanding; provided, however, that any interest income or profits on debt obligations issued hereunder shall not be exempt from the tax imposed by Chapter 220, Florida Statutes. The private interest portion of any such joint project shall be subject to all taxation in accordance with its proportionate interest in such project.

(Laws of Fla., Ch. 80-513, § 10; Laws of Fla., Ch. 82-312, § 5; Laws of Fla., Ch. 99-459, § 8)