N.Y. Public Authorities Law § 2799-llll: Liability for community obligations; tax exemption

§ 2799-llll. Liability for community obligations; tax exemption. 1.

The obligations of the corporation shall not be debts of the state, and

the state shall not be liable thereon, and such obligations shall not be

payable out of any funds other than those of the corporation.

2. It is hereby found, determined and declared that the creation of

the corporation and the carrying out of its purposes is in all respects

for the benefit of the people of the state and is a public purpose, and

that the corporation will be performing an essential governmental

function in the exercise of the powers conferred upon it by this title.

The corporation and its operations, property and moneys shall be free

and exempt from taxation of every kind by the city and the state and any

subdivision thereof. Except as hereinabove provided and except as may

otherwise specifically be provided, nothing contained in this act shall

confer exemption from any tax, assessment or fee upon any person, firm,

corporation or other entity, or upon the obligations of any of them.