The procedure prescribed in this chapter relative to calling for bids upon the sale of municipal bonds is not required in the case of bonds issued under the authorization of subdivision b or c of subsection 7 of section 21-03-06, or in case bonds are sold to:
1. The state board of university and school lands.
2. The Bank of North Dakota.
3. The public finance authority.
4. Trust funds administered by public officials.
5. The United States of America, or any agency or instrumentality thereof.