* § 1134. Exemption from taxes, assessments and certain fees. 1. It is
hereby determined that the creation of the authority and the carrying
out of its corporate purposes is in all respects for the benefit of the
people of the county and the state and is a public purpose and the
authority shall be regarded as performing a governmental function in the
exercise of the powers conferred upon it by this title and shall not be
required to pay any taxes, special ad valorem levies or special
assessments upon any properties owned by it or under its jurisdiction,
control or supervision or upon its activities, or any filing, recording
or transfer fees or taxes in relation to instruments filed, recorded or
transferred by it or on its behalf; provided, however, that any real
property acquired by the authority outside of the county shall be exempt
from real property taxes, ad valorem levies and special assessments only
pursuant to and to the extent provided by an agreement with the
governing body of the municipality in which such real property is
located. Notwithstanding the foregoing, the authority may enter into an
agreement with any municipality in which real property of the authority
is located or is to be located, to pay a sum or sums, annually or
otherwise, or to provide other consideration to such municipality with
respect to such real property.

2. Any bonds issued pursuant to this title, together with the income
therefrom, shall be exempt from taxation. The revenues, moneys and other
properties and activities of the authority, shall be exempt from all
taxes and governmental fees or charges, whether imposed by the state or
any municipality, including real estate taxes, franchise taxes, sales
taxes or other excise taxes. Any real property owned by the authority
outside the county shall be subject to the provisions of subdivision one
of this section. The state hereby covenants with the purchasers and with
all subsequent holders and transferees of bonds issued by the authority
pursuant to this title that the interest thereon shall be exempt from
taxation. The state further covenants with the holder of such bonds that
all revenues, moneys and other property pledged to secure the payment of
such bonds shall at all times be free from taxation, except for real
property taxes on real property owned by the authority outside the
county. For purposes of this subdivision, the phrase "exempt from
taxation" means exempt from direct taxation in conformity with
established judicial interpretation of the tax exempt status of the
obligations of the state and its agencies, entities, authorities and
political subdivisions and thus, the meaning of such phrase is in
conformity with the legislative intent expressed by section twenty-two
of chapter one hundred sixty-six of the laws of nineteen hundred
ninety-one regarding the tax exempt status of obligations of the state
and its agencies.

* NB There are 2 § 1134's