The bonds and interest or income from the bonds are exempt from taxation in this state, except from gift, inheritance, and estate taxes.
Cal. Pub. Util. Code § 99338
Limited Obligation Bonds
Known as the Mills-Alquist-Deddeh Act
The act spans §§ 99200–99420 (261 sections).
Added by Stats. 1971, Ch. 1400.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.