The bonds authorized by Sections 49-17-101 through 49-17-123 and the income therefrom, all trust indentures and mortgages executed as security therefor, all lease agreements made pursuant to the provisions hereof, and all pollution control facilities (when owned by the municipality) and the revenues derived from any agreement with respect thereto shall be exempt from all taxation by the State of Mississippi, and by any political subdivision thereof, except for inheritance, estate or transfer taxes and except further the contractors tax levied by Section 27-65-21, Mississippi Code of 1972.