N.Y. Public Authorities Law § 1742: Exemption of the authority

§ 1742. Exemption of the authority. 1. Notwithstanding any other

provision of law, any real or personal property, while owned or subject

to any rights of the authority, shall be exempt from all taxes, special

assessments and special ad valorem levies and from the payment of any

and all charges, rents or other payments to the city, other than charges

for services provided by the city's water and sewer systems. In

addition, any in rem actions or proceedings brought against such

property by the city or any other actions or proceedings concerning any

of the above brought against the authority by the city, and any such

actions or proceedings shall be void and shall be subject to dismissal

upon application of the authority at the sole expense of the city of New

York. In no instance shall title to any such property pass to the city

of New York except by deed or other appropriate document of sale,

release or conveyance executed by the authority.

2. Debts of the authority shall not be considered debts of the state

or debts of the city.