NY Pub Auth L § 1230-S (2021)
2021 New York Laws PBA - Public Authorities Article 5 - Public Utility Authorities Title 10-B - Niagara Falls Public Water Authority 1230-S - Exemption From Taxes, Assessments and Certain Fees.

§ 1230-s. Exemption from taxes, assessments and certain fees. 1. It is   hereby determined that the creation of the authority and the water board   and  the  carrying  out of its corporate purposes is in all respects for   the benefit of the people of  the  city  and  any  municipality  in  the   service  area  and  is a public purpose, and the authority and the water   board shall be regarded as  performing  governmental  functions  in  the   exercise  of  the  powers  conferred  upon  each  by this title, and the   authority and the water board shall not be required  to  pay  any  fees,   taxes, special ad valorem levies or assessments, whether state or local,   including  but  not limited to fees, taxes, special ad valorem levies or   assessments on real property, franchise  taxes,  sales  taxes  or  other   excise   taxes,   upon  any  property  owned  by  them  or  under  their   jurisdiction, control or supervision, or upon the uses thereof, or  upon   their  activities  in the operation and maintenance of its facilities or   any fares, tolls, rentals,  rates,  charges,  fees,  revenues  or  other   income  received  by the authority or the water board. The authority and   the water board shall at all times be exempt from any  filing,  mortgage   recording  or  transfer  fees or taxes in relation to instruments filed,   recorded or transferred by it or on its behalf. The  construction,  use,   occupation  or  possession of any property owned by the authority or the   water board, 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  as  well  as the property of the authority or the water board   shall at all times be exempt from taxes, except for transfer and  estate   taxes.  The  state  hereby  covenants  with  the purchasers and with all   subsequent holders and transferees of  bonds  issued  by  the  authority   pursuant  to  this  title,  in  consideration  of  the acceptance of and   payment for the bonds, that the bonds of the authority  issued  pursuant   to  this  title  and  the income therefrom and all revenues, monies, and   other property pledged to secure the payment of such bonds shall at  all   times be free from taxation, except for transfer and estate taxes.3. Notwithstanding the provisions of this section to the contrary, any   real  property  of  the  authority  or  water  board located outside the   boundaries of the city shall  be  exempt  from  the  payment  of  taxes,   special  ad  valorem  levies  and special assessments only if and to the   extent that such real property would have been exempt if  owned  by  the   city.4.  Notwithstanding any provision in this section to the contrary, the   water board may pay, or may enter into agreements with the city  or  any   municipality to pay, a sum or sums, annually or otherwise, or to provide   other  considerations to such city or municipality, with respect to real   property of  the  water  board  located  within  such  municipality  and   provided  that  any such payment or agreement to pay shall be subject to   approval by the authority.5. The water board shall not be required to pay  any  taxes  or  other   governmental  fees  or  charges,  whether  imposed  by  the state or any   municipality, including,  without  limitation,  franchise  taxes,  sales   taxes  or  other  excise  taxes,  or  any  other  tax or charge upon its   property or activities or upon any of its revenues or other income.6. Notwithstanding any other provision of this section, any payment by   the water board in lieu of tax payments described  in  this  subdivision   shall  be  subordinate  to any other payments required to be made to the   authority pursuant to this title,  including,  without  limitation,  the    payment  of  sums  to  the  authority or to any trustee representing the   holders of any bonds issued by the authority.