NY Pub Auth L § 1120-N (2021)
2021 New York Laws PBA - Public Authorities Article 5 - Public Utility Authorities Title 6-B - Clifton Park Water Authority 1120-N - Exemption From Taxes, Assessments and Certain Fees.

§ 1120-n. Exemption from taxes, assessments and certain fees. 1. It is   hereby  determined  that  the creation of the authority and the carrying   out of its corporate purposes is in all respects for the benefit of  the   people  of  the  town  and  the  state  and  is a public purpose and the   authority shall be regarded as performing a governmental function in the   exercise of the powers conferred upon it by this title and shall not  be   required  to  pay  any  taxes,  special  ad  valorem  levies  or special   assessments upon any property owned by it  or  under  its  jurisdiction,   control  or supervision or upon its activities, or any filing, recording   or transfer fees or taxes in relation to instruments filed, recorded  or   transferred  by  it  or  on its behalf; provided, however, that any real   property owned or under the jurisdiction, supervision or control of  the   authority  outside  of  the  district shall be exempt from real property   taxes, ad valorem levies or special assessments only pursuant to and  to   the  extent  provided  by  an  agreement  with the governing body of the   municipality in which said real property is located.  The  construction,   use,  occupation or possession of any property owned by the authority or   the town, including  improvements  thereon,  by  any  person  or  public   corporation  under  a  lease,  lease and sublease or any other agreement   shall  not  operate  to  abrogate  or  limit  the  foregoing  exemption,   notwithstanding  that the lessee, user, occupant or person in possession   shall claim ownership for federal income tax purposes.2. Any bonds issued pursuant to this title, together with  the  income   therefrom,   shall  be  exempt  from  taxation.  For  purposes  of  this   subdivision, the phrase "exempt from taxation" means exempt from  direct   taxation  in  conformity with established judicial interpretation of the   tax exempt status of the obligations of  the  state  and  its  agencies,   entities,  authorities  and political subdivisions and thus, the meaning   of such phrase is in conformity with the legislative intent expressed by   section twenty-two of chapter one  hundred  sixty-six  of  the  laws  of   nineteen   hundred   ninety-one  regarding  the  tax  exempt  status  of   obligations of the state and its  agencies.  The  revenues,  moneys  and   other  properties  and  activities of the authority shall be exempt from   taxes and governmental fees or charges, whether imposed by the state  or   any  municipality,  including  real estate taxes, franchise taxes, sales   taxes or other excise taxes except as otherwise provided in  subdivision   one  of  this  section with respect to real property located outside the   district.3. The  state  hereby  covenants  with  the  purchaser  and  with  all   subsequent  holders  and  transferees  of  bonds issued by the authority   pursuant to this title that the interest thereon shall  be  exempt  from   taxation.    The  state further covenants with the holders of such bonds   that all revenues, moneys, and other  property  pledged  to  secure  the   payment  of  such  bonds  shall at all times be free from such taxation.   For purposes of this subdivision,  the  phrase  "exempt  from  taxation"   means  exempt  from  direct  taxation  in  conformity  with  established   judicial interpretation of the tax exempt status of the  obligations  of   the   state  and  its  agencies,  entities,  authorities  and  political   subdivisions and thus, the meaning of such phrase is in conformity  with   the  legislative  intent  expressed by section twenty-two of chapter one   hundred sixty-six of the laws of nineteen hundred  ninety-one  regarding   the tax exempt status of obligations of the state and its agencies.