New York § 585 Bonds and notes to be tax exempt

New York Statutes

§ 585 — Bonds and notes to be tax exempt

New York § 585

Law PBAPublic Authorities

Title 4Thousand Islands Bridge Authority

Art. 3Bridge and Tunnel Authorities

This text of New York § 585 (Bonds and notes to be tax exempt) 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 § 585 (2026).

Text

§ 585. Bonds and notes to be tax exempt.

1.It is hereby determined\nthat the creation of the authority and the carrying out of its corporate\npurposes is a public purpose, and the authority shall be regarded as\nperforming a governmental function in the exercise of the powers\nconferred upon it by this title and shall be required to pay no taxes or\nassessments upon any of the property acquired by it or under its\njurisdiction or control or supervision or upon its activities, or upon\nthe income therefrom.\n 2. Any bonds or notes issued pursuant to this title, together with the\nincome therefrom, as well as the property of the authority, shall be\nexempt from taxation, except for transfer and estate taxes.\n

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§ 585. Bonds and notes to be tax exempt. 1. It is hereby determined\nthat the creation of the authority and the carrying out of its corporate\npurposes is a public purpose, and the authority shall be regarded as\nperforming a governmental function in the exercise of the powers\nconferred upon it by this title and shall be required to pay no taxes or\nassessments upon any of the property acquired by it or under its\njurisdiction or control or supervision or upon its activities, or upon\nthe income therefrom.\n 2. Any bonds or notes issued pursuant to this title, together with the\nincome therefrom, as well as the property of the authority, shall be\nexempt from taxation, except for transfer and estate taxes.\n