1599-NNNN - Tax exemptions.

§  1599-nnnn.  Tax  exemptions.  1.  It  is hereby determined that the  creation of the authority and the carrying out of its corporate purposes  is in all respects for the benefit of the people of  the  city  of  Long  Beach and its environs, and is a public purpose, and the authority shall  be regarded as performing a governmental function in the exercise of the  powers  conferred  upon it by this title and shall be required to pay no  taxes or assessments upon any of the property acquired by  it  or  under  its jurisdiction, control or supervision or upon its activities.    2. Any bonds or notes issued pursuant to this title, together with the  income  therefrom,  as  well  as the property of the authority, shall be  exempt from taxation, except for transfer and estate taxes.