Section 18. - Exemption of Property from Taxation.

The effectuation of the purposes of the Authority created under this Chapter is, shall and will be in all respects for the benefit of the people of the state and of Duval County, for the increase of their commerce and prosperity and for the improvement of their health, welfare and living conditions. The exercise of the powers by the Authority, conferred by this Chapter to effect such purposes constitutes the performance of essential county functions, and is hereby declared to be a county purpose. As the facilities owned, operated, and supervised and controlled by the Authority, under the provisions of this Chapter, constitue [constitute] public property and are used for county purposes, the Authority shall not be required to pay any taxes or assessments upon any such facilities or any parts thereof.