§ 1226-R — Exemption from taxes, assessments and certain fees

New York § 1226-R

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 10: Upper Mohawk Valley Regional Water Finance Authority
• Art. 5: Public Utility Authorities

Text

§ 1226-r. Exemption from taxes, assessments and certain fees. 1. The\nauthority shall not be required to pay any fees, taxes, special ad\nvalorem levies or assessments, whether state or local, including but not\nlimited to fees, taxes, special ad valorem levies or assessments on real\nproperty, franchise taxes, sales taxes or other excise taxes, upon any\nproperty owned by it or under its jurisdiction, control or supervision,\nor upon the uses thereof, or upon its activities in the operation and\nmaintenance of its facilities or any fares, tolls, rentals, rates,\ncharges, fees, revenues or other income received by the authority.\nNotwithstanding the previous sentence, the authority shall be required\nto pay water and pure water fees or charges as may be negotiated by any\npublic corporation. The authority shall at all times be exempt from any\nfiling, mortgage recording or transfer fees or taxes in relation to\ninstruments filed, recorded or transferred by it or on its behalf. The\nconstruction, use, occupation or possession of any property owned by the\nauthority or the county, including improvements thereon, by any person\nor public corporation under a lease, lease and sublease or any other\nagreement shall not operate to abrogate or limit the foregoing\nexemption, notwithstanding that the lessee, user, occupant or person in\npossession shall claim ownership for federal income tax purposes.\n 2. Any bonds issued pursuant to this title together with the income\nthere from as well as the property of the authority shall at all times\nbe exempt from taxes, except for transfer and estate taxes. The state\nhereby covenants with the purchasers and with all subsequent holders and\ntransferees of bonds issued by the authority pursuant to this title, in\nconsideration of the acceptance of and payment for the bonds, that the\nbonds of the authority issued pursuant to this title and the income\ntherefrom and all revenues, monies, and other property pledged to secure\nthe payment of such bonds shall at all times be free from taxation,\nexcept for transfer and estate taxes.\n 3. Notwithstanding the foregoing, the water board shall pay to each\nmunicipality and each school district as hereinafter provided located\neither in the service area or within municipalities in which real\nproperty of the water board is located in monthly payments commencing on\nthe first day of the fiscal year of such municipality or school district\nin the year succeeding the calendar year in which this title shall take\neffect:\n (a) to all school districts annually determined by the water board to\nhave lost real property tax revenues as a consequence of the transfer of\nany previously taxable real property by either the board of water supply\nor any municipality to the water board, the sum of nine hundred\nseventy-five thousand dollars in the first fiscal year and such sum\nannually thereafter in each of the next twenty-two years equal to the\nsum so paid the preceding year decreased by forty-two thousand three\nhundred ninety-one dollars, the amount to be paid to each individual\nschool district to be determined annually by the water board in\nproportion to the amount of real property taxes received by each such\nschool district from the board of water supply in fiscal year nineteen\nhundred ninety-three--nineteen hundred ninety-four;\n (b) to each town which the water board annually determines will\nprovide services to the water board during the next ensuing calendar\nyear, for a period of forty years commencing in the calendar year\nsucceeding the year after the date of enactment of this title, the\nannual sum of seventy-four thousand seven hundred thirty-seven dollars,\nwhich sum shall be increased every sixth year by five per centum;\nprovided, that the town of Trenton shall initially receive sixty\nthousand dollars of such initial aggregate amount with the remainder\nbeing distributed to the town of Russia in the amount of nine thousand\nfive hundred dollars, to the town of Norway in the amount of four\nthousand three hundred eighteen dollars, to the town of Ohio in the\namount of eight hundred ninety-four dollars and to the town of Salisbury\nin the amount of twenty-five dollars; which such amounts being increased\nby such five per centum as herein provided, and thereafter as the water\nboard shall determine;\n (c) to the county of Oneida, in each year during which the auditorium\ncommonly known as the Utica memorial auditorium, as the same may be\nreconstructed, enlarged or modified, or replaced by a building serving a\nsimilar function at a different location within the service area, shall\nbe operated as an auditorium for the benefit of the residents of the\ncounty of Oneida or any portion thereof, the annual sum of five hundred\nthousand dollars, which sum shall be increased every sixth year by ten\nper centum, for a period of forty years; and thereafter as the water\nboard shall determine;\n (d) to the city of Utica, the sum of two hundred thousand dollars\nduring each of the next ten years, commencing in the calendar year\nsucceeding the year after the date of enactment of this title; the sum\nof three hundred fifty thousand dollars in each of the following five\nyears; the sum of four hundred fifty-five thousand dollars in each of\nthe following five years; the sum of three hundred seventy-five thousand\ndollars in each of the following five years; the sum of four hundred\ntwenty-five thousand dollars in each of the following five years; the\nsum of four hundred seventy-five thousand dollars in each of the\nfollowing five years; the sum of five hundred twenty-five thousand\ndollars in each of the following five years; and thereafter as the water\nboard shall determine.\n Notwithstanding any other provision of this section, any payment in\nlieu of tax payments described in paragraph (a), (b), (c) or (d) of this\nsubdivision, (i) may be decreased at any time for any period by\nresolution of the governing body of the water board approved by the\naffirmative vote of at least seventy-five per centum of such governing\nbody and provided further that any such decrease shall be uniform for\nall payment in lieu of tax payments to the affect that any percentage\ndecrease to any municipality or school district shall be equally reduced\nto each other municipality or school district, and (ii) as the water\nboard shall determine, be in priority to or subordinate to any other\npayments required to be made pursuant to this title, including, without\nlimitation, the payment of sums to the authority or to any trustee\nrepresenting the holders of any bonds issued by the authority.\n