N.Y. Public Authorities Law § 2027: Exemption from taxes

§ 2027. 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 county of

Onondaga and its environments, 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 be

required to pay no taxes upon any of the properties 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, except for transfer and estate taxes.