N.Y. Pub. Auth. Law § 1020-n*2

* § 1020-n. Tax contract by the state. The state covenants with the\npurchasers and with all subsequent holders and transferees of bonds or\nnotes issued by the authority pursuant to this title, in consideration\nof the acceptance of and payment for the bonds that the bonds of the\nauthority issued pursuant to this title and the income therefrom shall\nbe exempt from such taxation, as aforestated in subdivision two of\nsection one thousand twenty-m of this article, and that all moneys,\nfunds and revenues pledged to pay or secure the payment of such bonds\nshall at all times be free from such taxation as aforestated in such\nsubdivision.\n * NB There are 2 § 1020-n's\n