§8-38-22. Exemption from taxation.
The revenue bonds and notes issued pursuant to this article
and the income therefrom are exempt from taxation except
inheritance, estate and transfer taxes; and the real and personal
property which a municipality or district board acquires pursuant
to the provisions of this article are exempt from taxation by the
state, or any county, municipality or other levying body, as public
property so long as the property is owned by the municipality or