N.Y. Public Authorities Law § 3566: Tax exemption and tax contract by the state

§ 3566. Tax exemption and tax contract by the state. 1. It is hereby

determined that the creation of the corporation and the fulfillment of

its corporate purposes is in all respects for the benefit of the people

of the state of New York and is a public purpose. Accordingly, the

corporation shall be regarded as performing an essential governmental

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

and the corporation shall not be required to pay any fees, taxes,

special ad valorem levies or assessments of any kind, except as provided

pursuant to the public health law, whether state or local, including but

not limited to fees, taxes, special ad valorem levies or assessments on

real property, franchise taxes, sales taxes, transfer taxes, mortgage

taxes or other taxes, upon or with respect to any property owned by it

or under its jurisdiction, control or supervision, or upon the uses

thereof, or upon or with respect to its activities or operations in

furtherance of the powers conferred upon it by this title, or upon or

with respect to any fares, tolls, rentals, rates, charges, fees,

revenues or other income received by the corporation. Provided however,

that the corporation shall continue to pay any fee, charge, assessment

or payment in lieu of taxes which had been heretofore paid by the state

in conjunction with the operation of Roswell Park Cancer Institute at

the effective date of transfer.

2. Any bonds issued pursuant to this title together with the income

therefrom shall at all times be free from taxation.

3. The state hereby covenants with the purchasers and with all

subsequent holders and transferees of bonds issued by the corporation

pursuant to this title, in consideration of the acceptance of and

payment for the bonds, that the bonds of the corporation issued pursuant

to this title and the income therefrom shall at all times be free from

taxation.

4. The corporation may pay, or may enter into agreements with any

municipality to pay, a sum or sums annually or otherwise or to provide

other considerations with respect to real property owned by the

corporation located within such municipality.