New York § 1438 Tax contract by the state

New York Statutes

§ 1438 — Tax contract by the state

New York·Law PBA Public Authorities·Title 2 White Plains Parking Authority·Art. 7 Parking Authorities

  § 1438. Tax contract by the state. The state of New York covenants\nwith the purchasers and with all subsequent holders and transferees of\nbonds issued by the authority pursuant to this title, in consideration\nof the acceptance of and payment for the bonds, that the bonds of the\nauthority issued pursuant to this title and the income therefrom, and\nall moneys, funds and revenues pledged to pay or secure the payment of\nsuch bonds, shall at all times be free from taxation except for estate\ntaxes and taxes on transfers by or in contemplation of death.\n

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§ 1438. Tax contract by the state. The state of New York covenants\nwith the purchasers and with all subsequent holders and transferees of\nbonds issued by the authority pursuant to this title, in consideration\nof the acceptance of and payment for the bonds, that the bonds of the\nauthority issued pursuant to this title and the income therefrom, and\nall moneys, funds and revenues pledged to pay or secure the payment of\nsuch bonds, shall at all times be free from taxation except for estate\ntaxes and taxes on transfers by or in contemplation of death.\n

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