N.Y. Transportation Law § 64: Tax exemptions

§ 64. Tax exemptions. 1. The Utica transit authority shall be exempt

from the payment of (a) any taxes or fees to the state or any

subdivision thereof, (b) any fees to any officer or employee of the

state or of any subdivision thereof, except where it is provided by or

pursuant to law that such officer or employee is personally entitled to

such fees as compensation for services rendered or performed by him in

his official capacity.

2. Bonds, mortgages, notes and other obligations of the Utica transit

authority are declared to be issued for a public purpose and to be

public instrumentalities and together with interest thereon, shall be

exempt from tax.

3. The property of the Utica transit authority shall be exempt from

all local and municipal taxes. The Utica transit authority may agree

with any municipality within the Utica transit authority's jurisdiction

that such municipality will (a) fix a sum which shall be paid to it

annually by the Utica transit authority in respect of each municipal

project; or (b) agree that the Utica transit authority shall not pay or

be liable to pay any sum whatsoever in respect of a municipal project or

projects for any year or years; or (c) agree with the Utica transit

authority upon the sum to be paid by the Utica transit authority for any

year or years in respect of a municipal project or projects, or accept

or agree to accept a fixed sum or other consideration in lieu of such

payment; provided, however, that the sum fixed, or agreed to be paid by

the Utica transit authority, for any year shall in no case exceed the

sum last levied as an annual tax upon the property included in such

project prior to the time of its acquisition by the Utica transit

authority.