N.Y. Public Authorities Law § 1391: Exemption from taxation

§ 1391. Exemption from taxation. 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 Ogdensburg 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 act and shall be required to pay no taxes or

assessments upon any of the properties acquired by the authority or

under its jurisdiction, control or supervision, or upon its activities.

Bonds or notes issued pursuant to this act, together with the income

therefrom, as well as the property of the authority shall be exempt from

taxation except for transfer and estate taxes.