Okla. Stat. tit. 82, § 82-1324.22: 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 said district, whether real, personal or

mixed; such exemption shall include, but not be limited to,

franchise taxes or assessments or fees levied by a county or

municipality for inspections of the facilities of the district which

were not requested by the district. Any and all securities and

evidences of indebtedness issued by a district created pursuant to

this act and the income interest and capital gains thereon shall not

be subject to the income tax laws of this state and persons owning

or holding said 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 said securities and evidences of indebtedness.