* § 2064. Exemptions from taxation. It is hereby found, determined and
declared that the creation of the authority and the carrying out of its
corporate purposes will alleviate juvenile delinquency, will improve the
general health and welfare, will in all respects benefit the people of
the state of New York, and constitutes a public purpose, and that the
authority will be performing an essential governmental function in the
exercise of the powers conferred upon it by this title, and the state of
New York covenants with the holders of the bonds that the authority
shall be required to pay no taxes or assessments upon any of the
property acquired by it or under its jurisdiction, control, possession
or supervision or upon its activities in the operation and maintenance
of the project or any tolls, revenues or other income received by the
authority and that the bonds of the authority and the income therefrom
shall at all times be exempt from taxation, except for transfer and
estate taxes.

* NB Authority dissolved September 1, 1977