§ 1230-S — Exemption from taxes, assessments and certain fees

New York § 1230-S

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 10-B: Niagara Falls Public Water Authority
• Art. 5: Public Utility Authorities

Text

§ 1230-s. Exemption from taxes, assessments and certain fees. 1. It is\nhereby determined that the creation of the authority and the water board\nand the carrying out of its corporate purposes is in all respects for\nthe benefit of the people of the city and any municipality in the\nservice area and is a public purpose, and the authority and the water\nboard shall be regarded as performing governmental functions in the\nexercise of the powers conferred upon each by this title, and the\nauthority and the water board shall not be required to pay any fees,\ntaxes, special ad valorem levies or assessments, whether state or local,\nincluding but not limited to fees, taxes, special ad valorem levies or\nassessments on real property, franchise taxes, sales taxes or other\nexcise taxes, upon any property owned by them or under their\njurisdiction, control or supervision, or upon the uses thereof, or upon\ntheir activities in the operation and maintenance of its facilities or\nany fares, tolls, rentals, rates, charges, fees, revenues or other\nincome received by the authority or the water board. The authority and\nthe water board shall at all times be exempt from any filing, mortgage\nrecording or transfer fees or taxes in relation to instruments filed,\nrecorded or transferred by it or on its behalf. The construction, use,\noccupation or possession of any property owned by the authority or the\nwater board, including improvements thereon, by any person or public\ncorporation under a lease, lease and sublease or any other agreement\nshall not operate to abrogate or limit the foregoing exemption,\nnotwithstanding that the lessee, user, occupant or person in possession\nshall claim ownership for federal income tax purposes.\n 2. Any bonds issued pursuant to this title together with the income\ntherefrom as well as the property of the authority or the water board\nshall at all times be exempt from taxes, except for transfer and estate\ntaxes. The state hereby covenants with the purchasers and with all\nsubsequent holders and transferees of bonds issued by the authority\npursuant to this title, in consideration of the acceptance of and\npayment for the bonds, that the bonds of the authority issued pursuant\nto this title and the income therefrom and all revenues, monies, and\nother property pledged to secure the payment of such bonds shall at all\ntimes be free from taxation, except for transfer and estate taxes.\n 3. Notwithstanding the provisions of this section to the contrary, any\nreal property of the authority or water board located outside the\nboundaries of the city shall be exempt from the payment of taxes,\nspecial ad valorem levies and special assessments only if and to the\nextent that such real property would have been exempt if owned by the\ncity.\n 4. Notwithstanding any provision in this section to the contrary, the\nwater board may pay, or may enter into agreements with the city or any\nmunicipality to pay, a sum or sums, annually or otherwise, or to provide\nother considerations to such city or municipality, with respect to real\nproperty of the water board located within such municipality and\nprovided that any such payment or agreement to pay shall be subject to\napproval by the authority.\n 5. The water board shall not be required to pay any taxes or other\ngovernmental fees or charges, whether imposed by the state or any\nmunicipality, including, without limitation, franchise taxes, sales\ntaxes or other excise taxes, or any other tax or charge upon its\nproperty or activities or upon any of its revenues or other income.\n 6. Notwithstanding any other provision of this section, any payment by\nthe water board in lieu of tax payments described in this subdivision\nshall be subordinate to any other payments required to be made to the\nauthority pursuant to this title, including, without limitation, the\npayment of sums to the authority or to any trustee representing the\nholders of any bonds issued by the authority.\n