New York § 1500-O Tax contract by the state

New York Statutes

§ 1500-O — Tax contract by the state

New York § 1500-O

Law PBAPublic Authorities

Title 5City of Buffalo Parking Authority

Art. 7Parking Authorities

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Bluebook

N.Y. Public Authorities § 1500-O (2026).

Text

  § 1500-o. Tax contract by the state. The state of New York covenants\nwith the purchasers and with all subsequent holders and transferees of\nbonds or notes issued by the authority pursuant to this title, in\nconsideration of the acceptance of and payment for the bonds or notes,\nthat the bonds and notes of the authority issued pursuant to this title\nand the income therefrom, and all moneys, funds and revenues pledged to\npay or secure the payment of such bonds or notes shall at all times be\nfree from taxation except for estate or gift taxes and taxes on\ntransfers.\n

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§ 1500-o. Tax contract by the state. The state of New York covenants\nwith the purchasers and with all subsequent holders and transferees of\nbonds or notes issued by the authority pursuant to this title, in\nconsideration of the acceptance of and payment for the bonds or notes,\nthat the bonds and notes of the authority issued pursuant to this title\nand the income therefrom, and all moneys, funds and revenues pledged to\npay or secure the payment of such bonds or notes shall at all times be\nfree from taxation except for estate or gift taxes and taxes on\ntransfers.\n