Section 14-202-120 - Bonds and projects - Tax exemption(a) Bonds issued under the provisions of this chapter, and the interest thereon, shall be exempt from all state, county, and municipal taxes, including property, income, inheritance, and estate taxes.(b) Any interest in a project of a municipality shall be exempt from all state, county, and municipal taxes, including property, income, inheritance, and estate taxes.Acts 1979, No. 5, §§ 13, 14; A.S.A. 1947, §§ 19-5613, 19-5614.