Oklahoma § 69-1714 - Exemptions from taxation - Leased property subject to

§ 69-1714. Exemptions from taxation - Leased property subject to

taxation.

The exercise of the powers granted by this article will be in

all respects for the benefit of the people of the state, for the

increase of their commerce and prosperity, and for the improvement

of their health and living conditions, and as the operation and

maintenance of turnpike projects by the Authority will constitute

the performance of essential governmental functions, the Authority

shall not be required to pay any taxes or assessments upon any

turnpike project or any property acquired or used by the Authority

under the provisions of this article or upon the income therefrom,

and the bonds issued under the provisions of this article, their

transfer and the income therefrom (including any profit made on the

sale thereof) shall at all times be free from taxation within the

state. The Authority is hereby limited in its power to acquire

property to the acquisition of property which is necessary to the

Oklahoma Statutes - Title 69. Roads, Bridges, and Ferries

construction and operation of the turnpike. And all property, both

real and personal, belonging to the Authority that is leased for

concessions, such as filling stations and restaurants, shall be

subject to taxation, the same as other privately owned property.

Added by Laws 1968, c. 415, § 1714, operative July 1, 1968.