Any indebtedness incurred by the school pursuant to this subsection and evidences of indebtedness issued in connection with the indebtedness are deemed to constitute a proper public purpose, and the evidences of indebtedness issued, their transfer and income derived from those evidences of indebtedness, including any profits made in the sale of the evidences of indebtedness, are exempt from taxation within the State.__The carrying out by the school of the powers conferred upon it by this subsection and the use of the proceeds of any such financing for capital projects of the school are deemed to be the performance of an essential governmental function.

SUMMARY

This bill grants the Governor Baxter School for the Deaf the authority to issue bonds to give the school the ability to exercise the powers already granted to it to acquire by purchase any property, land, buildings, structures, facilities or equipment and make improvements to those items necessary to fulfill the purposes of the school specified in other provisions of law.