Legislation

Search OpenLegislation Statutes

previous
  • SECTION 875
    Special provisions applicable to state sales and compensating use taxes and certain types of facilities
    • up
  • TITLE 1
    Agencies, Organization and Powers
    • next
  • SECTION 878
    Remedies of bondholders and noteholders
    • This entry was published on 2014-09-22
    NOTE: The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.

    SECTION 876

    Tax contract by the state

    General Municipal (GMU) CHAPTER 24, ARTICLE 18-A, TITLE 1

    § 876. Tax contract by the state. The state covenants with the
    purchasers and with all subsequent holders and transferees of bonds or
    notes issued by the agency pursuant to this title, in consideration of
    the acceptance of and payment for the bonds or notes, that the bonds and
    notes of the agency issued pursuant to this title and the income
    therefrom, and all moneys, funds and revenues pledged to pay or secure
    the payment of such bonds or notes shall at all times be free from
    taxation except for estate taxes and taxes on transfers by or in
    contemplation of death.