N.Y. Public Authorities Law § 211: Exemption from taxation

* § 211. Exemption from taxation. The construction, maintenance and

operation of Bethpage park is in all respects for the benefit of the

people of the state of New York for the increase of their pleasure,

convenience and welfare and for the improvement of their health, and the

authority shall be regarded as performing a governmental function in

carrying out its corporate purpose and shall be required to pay no taxes

or assessments of any kind whatsoever upon any of the property acquired

by it, which said property shall be exempt from taxation so long as the

same is owned or possessed by the authority, or upon its activities in

the operation and maintenance of Bethpage park or upon any revenues or

other income received by it, and any mortgage of real property executed,

given or made by the authority shall be exempt from any tax imposed on

the recording thereof and any person or corporation owning any debt or

obligation of the authority secured by any mortgage of its real property

shall be exempt from any tax on the recording of such mortgage. Nothing

in this section shall be construed, however, to impress any trust upon

such property as such or to limit the absolute character of any title

which may be derived through the authority by sale or the foreclosure of

any lien or mortgage thereon.

* NB (Abolished in 1975)