§ 1622-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 village of Nyack 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.