§ 1134*2 — Exemption from taxes, assessments and certain fees

New York § 1134*2

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 6-C*: Dutchess County Water and Wastewater Authority
• Art. 5: Public Utility Authorities

Text

* § 1134. Exemption from taxes, assessments and certain fees. 1. It is\nhereby determined that the creation of the authority and the carrying\nout of its corporate purposes is in all respects for the benefit of the\npeople of the county and the state and is a public purpose and the\nauthority shall be regarded as performing a governmental function in the\nexercise of the powers conferred upon it by this title and shall not be\nrequired to pay any taxes, special ad valorem levies or special\nassessments upon any properties owned by it or under its jurisdiction,\ncontrol or supervision or upon its activities, or any filing, recording\nor transfer fees or taxes in relation to instruments filed, recorded or\ntransferred by it or on its behalf; provided, however, that any real\nproperty acquired by the authority outside of the county shall be exempt\nfrom real property taxes, ad valorem levies and special assessments only\npursuant to and to the extent provided by an agreement with the\ngoverning body of the municipality in which such real property is\nlocated. Notwithstanding the foregoing, the authority may enter into an\nagreement with any municipality in which real property of the authority\nis located or is to be located, to pay a sum or sums, annually or\notherwise, or to provide other consideration to such municipality with\nrespect to such real property.\n 2. Any bonds issued pursuant to this title, together with the income\ntherefrom, shall be exempt from taxation. The revenues, moneys and other\nproperties and activities of the authority, shall be exempt from all\ntaxes and governmental fees or charges, whether imposed by the state or\nany municipality, including real estate taxes, franchise taxes, sales\ntaxes or other excise taxes. Any real property owned by the authority\noutside the county shall be subject to the provisions of subdivision one\nof this section. The state hereby covenants with the purchasers and with\nall subsequent holders and transferees of bonds issued by the authority\npursuant to this title that the interest thereon shall be exempt from\ntaxation. The state further covenants with the holder of such bonds that\nall revenues, moneys and other property pledged to secure the payment of\nsuch bonds shall at all times be free from taxation, except for real\nproperty taxes on real property owned by the authority outside the\ncounty. For purposes of this subdivision, the phrase "exempt from\ntaxation" means exempt from direct taxation in conformity with\nestablished judicial interpretation of the tax exempt status of the\nobligations of the state and its agencies, entities, authorities and\npolitical subdivisions and thus, the meaning of such phrase is in\nconformity with the legislative intent expressed by section twenty-two\nof chapter one hundred sixty-six of the laws of nineteen hundred\nninety-one regarding the tax exempt status of obligations of the state\nand its agencies.\n * NB There are 2 § 1134's\n