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The Laws of New York
Consolidated Laws of New York
CHAPTER 43-A
Public Authorities
ARTICLE 8
Miscellaneous Authorities
TITLE 8
New York Job Development Authority
SUBTITLE 1
General Provisions
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SECTION 1806
Exemption from taxation of the property and income of the authority
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SUBTITLE 1
General Provisions
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SECTION 1808
Bonds and notes of the authority legal investments for fiduciaries
This entry was published on 2014-09-22
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SECTION 1807
Exemption from taxation of bonds and notes of the authority
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 8, TITLE 8, SUBTITLE 1
§ 1807. Exemption from taxation of bonds and notes of the authority.
The state covenants with the purchasers and with all subsequent holders
and transferees of bonds and notes issued by the authority pursuant to
this title, in consideration of the acceptance of and payment for the
bonds and 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 shall at
all times be free from taxation, except for estate and gift taxes and
taxes on transfers.