Bonds issued by any land grant institution of learning and loans secured by mortgages, their transfers and the income therefrom, (including any profits made on the sale thereof), shall at all times be free from taxation within the Commonwealth of Pennsylvania.

All acts and parts of acts are repealed in so far as inconsistent and any act of the General Assembly or any ordinance or resolution adopted by any political subdivision imposing a tax on the obligations set forth in this section are hereby repealed or terminated.