Exemption from Tax.
Section 26
SEC. 26. Exemption from Tax.—The Authority shall be exempt from all taxes mcidental to its operations: Provided, That its isubsidiary corporations shall be subject to all said taxes five years after their establishment under a graduated scale as follows: twenty per centum of all said taxes, during the sixth year, forty per centum of all taxes during the seventh year, sixty per centum of all said taxes during the eighth year; eighty per centum of all said taxes during the ninth year, and one hundred per centum of all said taxes during the tenth year, after said establishment. All notes, bonds and debentures and other obligations issued by the Authority shall be exempt from all taxes, both as to principal and interest.