* § 1621-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
Middletown 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 or assessments upon any of the property
acquired by it or under its jurisdiction or control or supervision or
upon its activities.

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.

* NB Repealed per § 1621-r (see chapter 597 of 2023 § 2 for specifics)