The corporation and all facilities at any time owned by it and the income therefrom and all bonds issued by it and the income therefrom shall be exempt from all taxation in the State of Alabama.
Ala. Code § 11-59-16
Exemption from Taxation of Corporations, Facilities, Bonds, Etc.
(Acts 1947, No. 231, p. 94, §11.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.