N.Y. Pub. Auth. Law § 1622-n

§ 1622-n. Tax exemptions. 1. It is hereby determined that the creation\nof the authority and the carrying out of its corporate purposes is in\nall respects for the benefit of the people of the village of Nyack and\nits environs, and is a public purpose, and the authority shall be\nregarded as performing an essential governmental function in the\nexercise 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.\n