§ 1163. Exemption from taxes. 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 state of New
York and is a public purpose. Accordingly, the authority shall be
regarded as performing an essential governmental function in the
exercise of the powers conferred upon it by this title, and the
authority shall not be required to pay any fees, taxes, special ad
valorem levies or assessments of any kind, whether state or local,
including but not limited to fees, taxes, special ad valorem levies or
assessments on real property, franchise taxes, sales taxes or other
taxes, upon or with respect to any property owned by it or under its
jurisdiction, control or supervision, or upon the uses thereof, or upon
or with respect to its activities or operations in furtherance of the
powers conferred upon it by the title, or upon or with respect to any
fares, tolls, rentals, rates, charges, fees, revenues or other income
received by the authority.

2. Any bonds or notes issued pursuant to this title, together with the
income therefrom, as well as the property of the authority, shall be
exempt from taxation, except for transfer and estate taxes.