N.Y. New York City health and hospitals corporation act 1016/69 § 19: Exemption from taxation

§ 19. Exemption from taxation. 1. The moneys and property of the

corporation and any property under its jurisdiction, control or

supervision, and all of its activities and operations shall be exempt

from taxation.

2. The state of New York covenants with the purchasers of and with all

subsequent holders and transferees of bonds and notes issued by the

corporation pursuant to this act, in consideration of the acceptance of

and payment for the said bonds and notes, that the said bonds and notes

and the income therefrom, and all moneys, funds and revenue pledged to

pay or secure the payment of such bonds and notes shall at all time be

free from taxation, except for estate and gift taxes and taxes on

transfers.