§ 6-20-2612 - Bonds exempt from state, county, and municipal taxes.
6-20-2612. Bonds exempt from state, county, and municipal taxes.
Bonds and the interest on the bonds issued under this subchapter are exempt from state, county, and municipal taxes, including income taxes, inheritance taxes, and property taxes. The bonds shall be eligible to secure deposits of all public funds and shall be legal for investment of bank funds, fiduciary funds, insurance company funds, trust funds, and public funds.