* § 1599-n. Tax exemptions. 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 city of
Schenectady and its environs, and is a public purpose, and the authority
shall be regarded as performing an essential governmental function in
the exercise of the powers conferred upon it by this title and shall be
required to pay no taxes, special ad valorem levies or special
assessments upon any of the property acquired by it or under its
jurisdiction or 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,
including improvements thereon, by any person or public benefit
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.

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 taxation, except for transfer and estate taxes.

* NB Authority ceased to exist 08/05/2002

* NB There are 4 § 1599-n's