N.Y. Public Authorities Law § 2618: Property and income of the authority

§ 2618. Property and income of the authority. 1. The property of the

authority and its income and operations shall be exempt from assessments

of every kind and nature.

2. The authority may receive, accept, invest, administer, expend and

disburse for its corporate purposes appropriations from the state and

the park district, and other revenues and moneys made available or to be

made available to it from any or all sources public or private.

3. Any such moneys of the authority not required for immediate use

may, at the discretion of the authority, be invested pursuant to the

provisions of section ninety-eight-a of the state finance law.

4. The authority shall accept from the New York state urban

development corporation, created by chapter one hundred seventy-four of

the laws of nineteen hundred sixty-eight, constituting the New York

state urban development corporation act, all of the personal property

acquired by it from Lake Placid nineteen hundred eighty Olympic

Organizing Games, Inc.