N.Y. Public Authorities Law § 1622-n: Tax exemptions

§ 1622-n. Tax exemptions. 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 of Nyack and

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

regarded as performing an essential governmental function in the

exercise of the powers conferred upon it by this title and shall be

required to pay no taxes or assessments upon any of the property

acquired by it or under its jurisdiction or control or supervision or

upon its activities.

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

income therefrom, as well as the property of the authority, shall be

exempt from taxation.