New York § 710 Exemption from taxation

New York Statutes

§ 710 — Exemption from taxation

New York·Law PBA Public Authorities·Title 8 Ogdensburg Bridge Authority·Art. 3 Bridge and Tunnel Authorities

§ 710. Exemption from taxation.

1.It is hereby determined that the\ncreation of the authority and the carrying out of its corporate purposes\nis in all respects for the benefit of the people of the state of New\nYork and it 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 properties 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\nfree from taxation, except for transfer and estate taxes.\n

Free access — add to your briefcase to read the full text and ask questions with AI

§ 710. Exemption from taxation. 1. It is hereby determined that the\ncreation of the authority and the carrying out of its corporate purposes\nis in all respects for the benefit of the people of the state of New\nYork and it 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 properties 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\nfree from taxation, except for transfer and estate taxes.\n

New York § 710 (Exemption from taxation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.