New York § 1982 Tax contract by the state

New York Statutes

§ 1982 — Tax contract by the state

New York·Law PBA Public Authorities·Title 12 No title·Art. 8 Miscellaneous Authorities

  § 1982. Tax contract by the state. The state of New York covenants\nwith the purchasers and with all subsequent holders and transferees of\nbonds and notes issued by the authority pursuant to this title, in\nconsideration of the acceptance of and payments for the bonds and 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 and notes, shall at all times be\nfree from taxation except for transfer and estate taxes.\n

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§ 1982. Tax contract by the state. The state of New York covenants\nwith the purchasers and with all subsequent holders and transferees of\nbonds and notes issued by the authority pursuant to this title, in\nconsideration of the acceptance of and payments for the bonds and 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 and notes, shall at all times be\nfree from taxation except for transfer and estate taxes.\n

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