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The Laws of New York
Consolidated Laws of New York
CHAPTER 43-A
Public Authorities
ARTICLE 8
Miscellaneous Authorities
TITLE 11
Troy Industrial Development Authority
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SECTION 1963-B
Special provisions applicable to state sales and compensating use taxes and certain types of facilities
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TITLE 11
Troy Industrial Development Authority
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SECTION 1964-A
Financial records
This entry was published on 2014-09-22
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SECTION 1964
Tax contract by the state
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 8, TITLE 11
§ 1964. Tax contract by the state. The state 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.