§ 1742. Exemption of the authority. 1. Notwithstanding any other
provision of law, any real or personal property, while owned or subject
to any rights of the authority, shall be exempt from all taxes, special
assessments and special ad valorem levies and from the payment of any
and all charges, rents or other payments to the city, other than charges
for services provided by the city's water and sewer systems. In
addition, any in rem actions or proceedings brought against such
property by the city or any other actions or proceedings concerning any
of the above brought against the authority by the city, and any such
actions or proceedings shall be void and shall be subject to dismissal
upon application of the authority at the sole expense of the city of New
York. In no instance shall title to any such property pass to the city
of New York except by deed or other appropriate document of sale,
release or conveyance executed by the authority.

2. Debts of the authority shall not be considered debts of the state
or debts of the city.