As the exercise of the powers conferred by this act [article] constitutes the performance
of essential public functions and as any water system or sewer system or combined
water and sewer system constructed under the provisions of this act [article] constitutes
public property used for public purposes, such water systems, sewer systems or combined
water and sewer systems and all properties, revenues, or other assets thereof, and
all bonds issued hereunder and the interest thereon, shall be exempt from all taxation
by the state, or any political subdivision, agency or instrumentality thereof.
(Laws of Fla., Ch. 67-1880, § 15)
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