Section 14-360-312 - Borrowing of funds and revenue bonds - Exemption from certain taxes(a) Bonds issued under the provisions of this subchapter shall be exempt from all state, county, and municipal taxes.(b) This exemption shall include income taxation and inheritance taxation.Acts 1959, No. 175, § 4; 1970 (Ex. Sess.), No. 34, § 1; 1975, No. 301, § 2; 1981, No. 425, § 41; A.S.A. 1947, § 74-522.