N.Y. Pub. Auth. Law § 1600-n
Tax exemptions
Redline — January 1, 2015 → current.View current text →
Current — January 1, 2016
As of January 1, 2015
* § 1600-n. Tax contract by the state. The state of New York\nconvenants with the purchasers and with all subsequent holders and\ntransferees of bonds issued by the authority pursuant to this title, in\nconsideration of the acceptance of and payment for the bonds, that the\nbonds of the authority issued pursuant to this title and the income\ntherefrom, and all moneys, funds and revenues pledged to pay or secure\nthe payment of such bonds, shall at all times be free from taxation\nexcept for estate taxes and taxes on transfers by or in contemplation of\ndeath.\n * NB Ceases to exist December 31, 2014\n * NB There are 2 § 1600-n's\n
* § 1600-n. Tax exemptions. 1. It is hereby determined that the\ncreation of the authority and the carrying out of its corporate purposes\nis in all respects for the benefit of the people of the village of\nTarrytown and its environs, and is a public purpose, and the authority\nshall be regarded as performing an essential governmental function in\nthe exercise of the powers conferred upon it by this title and shall be\nrequired to pay no taxes or assessments upon any of the property\nacquired by it or under its jurisdiction or control or supervision or\nupon its activities.\n 2. Any bonds or notes issued pursuant to this title, together with the\nincome therefrom, as well as the property of the authority, shall be\nexempt from taxation, except for transfer and estate taxes.\n * NB Ceased to exist December 31, 1999\n
Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.