N.Y. Public Authorities Law § 1020-m*2: Exemption from taxes

* § 1020-m. Exemption from taxes. 1. It is hereby determined that the

creation of the authority and the carrying out of its corporate purposes

is in all respects for the benefit of the people of the village and its

environs, and is a public purpose, and the authority shall be regarded

as performing a governmental function in the exercise of the powers

conferred upon it by this title and shall not be required to pay any

taxes, special ad valorem levies or special assessments upon any of the

properties acquired by it or under its jurisdiction or control or

supervision or upon its activities or any filing, recording or transfer

fees or taxes in relation to instruments filed, recorded or transferred

by it or on its behalf.

2. Any bonds issued pursuant to this title, together with the income

therefrom, shall be exempt from taxation except for estate and transfer

taxes. The revenues, moneys and all other properties of the authority

shall be exempt from all taxes and governmental fees or charges, whether

imposed by the state or any municipality, including without limitation

real estate taxes, franchise taxes, sales taxes or other excise taxes.

* NB There are 2 § 1020-m's