Notwithstanding any restrictions contained in any other law, the state and all public
officers, boards, and agencies, and political subdivisions and agencies thereof, all
national banking associations, state banks, trust companies, savings banks and institutions,
savings and loan associations, investment companies, and other persons carrying on
a banking business, and all executors, administrators, guardians, trustees, and other
fiduciaries, may legally invest any sinking funds, moneys, or other funds belonging
to them or within their control in any bonds issued by the commission pursuant to
this chapter, and the bonds are authorized security for public deposits. The bonds, and the interest thereon, are exempt from all state, county, and municipal
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