New York § 2799-LLLL Liability for community obligations; tax exemption

New York Statutes

§ 2799-LLLL — Liability for community obligations; tax exemption

New York § 2799-LLLL

Law PBAPublic Authorities

Title 35Roosevelt Island Operating Corporation

Art. 8Miscellaneous Authorities

This text of New York § 2799-LLLL (Liability for community obligations; tax exemption) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Public Authorities § 2799-LLLL (2026).

Text

  § 2799-llll. Liability for community obligations; tax exemption. 1.\nThe obligations of the corporation shall not be debts of the state, and\nthe state shall not be liable thereon, and such obligations shall not be\npayable out of any funds other than those of the corporation.\n  2. It is hereby found, determined and declared that the creation of\nthe corporation and the carrying out of its purposes is in all respects\nfor the benefit of the people of the state and is a public purpose, and\nthat the corporation will be performing an essential governmental\nfunction in the exercise of the powers conferred upon it by this title.\nThe corporation and its operations, property and moneys shall be free\nand exempt from taxation of every kind by the city and the state and any\nsubdivision there

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§ 2799-llll. Liability for community obligations; tax exemption. 1.\nThe obligations of the corporation shall not be debts of the state, and\nthe state shall not be liable thereon, and such obligations shall not be\npayable out of any funds other than those of the corporation.\n 2. It is hereby found, determined and declared that the creation of\nthe corporation and the carrying out of its purposes is in all respects\nfor the benefit of the people of the state and is a public purpose, and\nthat the corporation will be performing an essential governmental\nfunction in the exercise of the powers conferred upon it by this title.\nThe corporation and its operations, property and moneys shall be free\nand exempt from taxation of every kind by the city and the state and any\nsubdivision thereof. Except as hereinabove provided and except as may\notherwise specifically be provided, nothing contained in this act shall\nconfer exemption from any tax, assessment or fee upon any person, firm,\ncorporation or other entity, or upon the obligations of any of them.\n