§ 536 — Tax contract by the state

§ 536 Tax contract by the state. (1) 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 making of any payment for the bonds or notes, that\nthe bonds and notes of the authority issued pursuant to this title and\nthe income therefrom, and all moneys, funds, tolls and other revenue\npledged to pay or secure the payment of such bonds and notes, shall at\nall times be free from taxation except for estate taxes and taxes on\ntransfers by or in contemplation of death.\n (2) Nothing herein shall be construed to repeal or supersede any tax\nexemptions heretofore or hereafter granted by general or other laws.\n