The bonds are issued for an essential public and governmental purpose, and together with interest on them and income from them are exempt from all taxes.
Cal. Health & Safety Code § 33662
Agency Bonds
Known as the Community Redevelopment Law
The act spans §§ 33000–33855 (601 sections).
Added by Stats. 1963, Ch. 1812.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.