Legislation
SECTION 1599-OOO*2
Tax contract by the state
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 7, TITLE 16*
* § 1599-ooo. Tax contract by the state. The state of New York
covenants with the purchasers and with all subsequent holders and
transferees of bonds or notes issued by the authority pursuant to this
title, in consideration of the acceptance of and payment for the bonds
or notes that the bonds and notes of the authority issued pursuant to
this title and the income therefrom, and all moneys, funds and revenues
pledged to pay or secure the payment of such bonds or notes, shall at
all times be free from taxation except for estate taxes and taxes on
transfers by or in contemplation of death.
* NB Authority ceased to exist 04/01/1977
* NB There are 2 § 1599-ooo's
covenants with the purchasers and with all subsequent holders and
transferees of bonds or notes issued by the authority pursuant to this
title, in consideration of the acceptance of and payment for the bonds
or notes that the bonds and notes of the authority issued pursuant to
this title and the income therefrom, and all moneys, funds and revenues
pledged to pay or secure the payment of such bonds or notes, shall at
all times be free from taxation except for estate taxes and taxes on
transfers by or in contemplation of death.
* NB Authority ceased to exist 04/01/1977
* NB There are 2 § 1599-ooo's