Section 14-362-121 - Exemption from taxation(a) Each authority shall be exempt from the payment of any taxes or fees to the state, or any subdivision thereof, or to any office or employee of the state, or of any subdivision thereof.(b)(1) The property of each authority shall be exempt from all local and municipal taxes.(2) Bonds, notes, debentures, and other evidence of indebtedness of the authority are declared to be issued for a public purpose and to be public instrumentalities and, together with interest thereon, shall be exempt from taxes.Acts 1968 (1st Ex. Sess.), No. 17, § 13; A.S.A. 1947, § 74-228.