NY Pub Auth L § 1226-R (2021)
2021 New York Laws PBA - Public Authorities Article 5 - Public Utility Authorities Title 10 - Upper Mohawk Valley Regional Water Finance Authority 1226-R - Exemption From Taxes, Assessments and Certain Fees.

§  1226-r. Exemption from taxes, assessments and certain fees.  1. The authority 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 it or under its jurisdiction, control or  supervision, or  upon  the  uses thereof, or upon its 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. Notwithstanding the previous sentence, the authority shall  be  required to  pay water and pure water fees or charges as may be negotiated by any public corporation. The authority 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 county, 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 there from as well as the property of the authority 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 foregoing, the water board shall  pay  to  each municipality  and  each  school district as hereinafter provided located either in the service  area  or  within  municipalities  in  which  real property of the water board is located in monthly payments commencing on the first day of the fiscal year of such municipality or school district in  the year succeeding the calendar year in which this title shall take effect:  (a) to all school districts annually determined by the water board  to have lost real property tax revenues as a consequence of the transfer of any previously taxable real property by either the board of water supply or  any  municipality  to  the  water  board,  the  sum  of nine hundred seventy-five thousand dollars in the first  fiscal  year  and  such  sum annually  thereafter  in  each of the next twenty-two years equal to the sum so paid the preceding year decreased  by  forty-two  thousand  three hundred  ninety-one  dollars,  the  amount to be paid to each individual school district  to  be  determined  annually  by  the  water  board  in proportion  to  the  amount of real property taxes received by each such school district from the board of water supply in fiscal  year  nineteen hundred ninety-three--nineteen hundred ninety-four;  (b)  to  each  town  which  the  water  board annually determines will provide services to the water board during  the  next  ensuing  calendar year,  for  a  period  of  forty  years  commencing in the calendar year succeeding the year after the date  of  enactment  of  this  title,  the annual  sum of seventy-four thousand seven hundred thirty-seven dollars, which sum shall be increased  every  sixth  year  by  five  per  centum; provided,  that  the  town  of  Trenton  shall  initially  receive sixty thousand dollars of such initial aggregate  amount  with  the  remainder being  distributed  to the town of Russia in the amount of nine thousand  five hundred dollars, to the town  of  Norway  in  the  amount  of  four thousand  three  hundred  eighteen  dollars,  to the town of Ohio in the amount of eight hundred ninety-four dollars and to the town of Salisbury in the amount of twenty-five dollars; which such amounts being increased by  such five per centum as herein provided, and thereafter as the water board shall determine;  (c) to the county of Oneida, in each year during which the  auditorium commonly  known  as  the  Utica  memorial auditorium, as the same may be reconstructed, enlarged or modified, or replaced by a building serving a similar function at a different location within the service area,  shall be  operated  as  an  auditorium for the benefit of the residents of the county of Oneida or any portion thereof, the annual sum of five  hundred thousand  dollars,  which sum shall be increased every sixth year by ten per centum, for a period of forty years; and  thereafter  as  the  water board shall determine;  (d)  to  the  city  of  Utica, the sum of two hundred thousand dollars during each of the next ten  years,  commencing  in  the  calendar  year succeeding  the  year after the date of enactment of this title; the sum of three hundred fifty thousand dollars in each of  the  following  five years;  the  sum  of four hundred fifty-five thousand dollars in each of the following five years; the sum of three hundred seventy-five thousand dollars in each of the following five years; the  sum  of  four  hundred twenty-five  thousand  dollars  in each of the following five years; the sum of four  hundred  seventy-five  thousand  dollars  in  each  of  the following  five  years;  the  sum  of  five hundred twenty-five thousand dollars in each of the following five years; and thereafter as the water board shall determine.   Notwithstanding any other provision of this section,  any  payment  in lieu of tax payments described in paragraph (a), (b), (c) or (d) of this subdivision,  (i)  may  be  decreased  at  any  time  for  any period by resolution of the governing body of the  water  board  approved  by  the affirmative  vote  of at least seventy-five per centum of such governing body and provided further that any such decrease shall  be  uniform  for all  payment  in  lieu of tax payments to the affect that any percentage decrease to any municipality or school district shall be equally reduced to each other municipality or school district, and  (ii)  as  the  water board  shall  determine,  be  in priority to or subordinate to any other payments required to be made 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.