Okla. Stat. tit. 82, § 82-1274: Exemption from taxes and assessments

Districts formed hereunder shall be exempt from all excise taxes

of whatsoever kind or nature, and further, shall be exempt from

payment of assessments in any general or special taxing district

levied upon the property of the district, whether real, personal or

mixed. Any and all obligations, securities and evidences of

indebtedness issued by a district formed pursuant to this act shall

be exempt from all inheritance or death taxes, and the income

interest and capital gains thereon shall not be subject to the

income tax laws of this state. Persons owning or holding the

obligations, securities and evidences of indebtedness or their

heirs, devisees, successors or assigns shall not be required to pay

to the State of Oklahoma income tax upon the profits and capital

gains upon the obligations, securities and evidences of

indebtedness.