Section 52039 Of Chapter 4. Revenue Bonds From California Health And Safety Code >> Division 31. >> Part 5. >> Chapter 4.

. Any property or interests in property held by or on behalf of a city or county pursuant to the provisions of this part and any bonds issued under the provisions of this part, their transfer and the income therefrom, shall at all times be free from taxation of every kind by the state and city or county, or other political subdivision of the state, except inheritance and gift taxes.