Exemption from taxation; eligibility for investment ACTIVE

Bonds issued under the authority of this Part shall be exempt from all taxation for state, parish, municipal, or other purposes. The bonds shall be legal and authorized investments for banks, savings banks, insurance companies, homestead and building and loan associations, tutors of minors, curators of interdicts, trustees, and other fiduciaries. The bonds may be used for deposit with any officer, board, municipality, or other political subdivision of the state, in any case where, by present or future laws deposit or security is required.