Section 14-186-312 - Bonds - Tax exemption(a) Bonds issued under the provisions of this subchapter shall be exempt from all state, county, and municipal taxes.(b) This exemption includes income, estate, and inheritance taxes.Acts 1937, No. 231, § 17; Pope's Dig., § 9721; Acts 1973, No. 87, § 5; A.S.A. 1947, § 19-2716.