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  • SECTION 1038
    When bonds legal investments for fiduciaries
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  • TITLE 2
    Albany Light, Heat and Power Authority
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  • SECTION 1040
    Remedies of bondholders
    • This entry was published on 2014-09-22
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    SECTION 1039

    Exemption from taxation

    Public Authorities (PBA) CHAPTER 43-A, ARTICLE 5, TITLE 2

    * § 1039. Exemption from taxation. The real and personal property of
    the authority shall be exempt from all taxation, and so shall all of its
    activities and operations, except that the owners of its bonds and other
    obligations shall be subject to transfer and estate taxes.

    * NB Terminated July 1, 1963