Bonds, notes, warrants, proceeds, and interest; exemption from state taxes

Sec. 31. Bonds, notes, or warrants issued under this chapter and: (1) proceeds received from their sale by a holder, to the extent of the holder's cost of acquisition; (2) proceeds received on their redemption before maturity; (3) proceeds received at their maturity; and (4) interest received on them; are exempt from state taxes as provided by IC 6-8-5. [Pre-Local Government Recodification Citation: 18-6-4.5-25.] As added by Acts 1981, P.L.309, SEC.31. Amended by Acts 1982, P.L.28, SEC.11.