Section 37940 Of Chapter 3. Bonds And Notes From California Health And Safety Code >> Division 24. >> Part 13. >> Chapter 3.

. The exercise of the powers granted by this part shall be in all respects for the benefit of the people of this state and for their health and welfare. Any bonds or notes issued under the provisions of this chapter, their transfer and the income therefrom, shall at all times be free from taxation of every kind by the state and by the municipalities and other political subdivisions of the state.