§ 2053-p. 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 property 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. The construction, use, occupation or
possession of any property owned by the authority or the county,
including improvements thereon, by any person or public corporation
under a lease, lease and sublease or any other agreement shall not
operate to abrogate or limit the foregoing exemption, notwithstanding
that the lessee, user, occupant or person in possession shall claim
ownership for federal income tax purposes. Mortgages made or financed,
directly or indirectly, by the authority shall be exempt from the
mortgage recording taxes imposed by article eleven of the tax law. The
authority shall be deemed a public authority for the purposes of section
four hundred twelve of the real property tax law.

2. Any bonds issued pursuant to this title together with the income
therefrom as well as the property of the authority shall be exempt from
taxes, except for transfer and estate taxes. The revenues, moneys and
all other property and all transactions 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 without limitation
real estate taxes, franchise taxes, sales taxes or other excise taxes.
The state hereby covenants with the purchasers and with all subsequent
holders and transferees of bonds issued by the authority pursuant to
this title, in consideration of the acceptance of any payment for the
bonds, that the bonds of the authority issued pursuant to this title and
the income therefrom and all revenues, moneys, and other property
pledged to secure the payment of such bonds shall at all times be free
from taxation except for transfer and estate taxes.