All property acquired by any city of this State for the purpose of establishing, developing, maintaining or operating the port and terminal utilities of such city in pursuance of the provisions of this chapter shall be exempt from taxation so long as it shall be maintained and used for such purposes.
HISTORY: 1962 Code Section 54-116; 1952 Code Section 54-116; 1942 Code Section 7565; 1932 Code Section 7581; 1926 (34) 947.
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