§ 2618. Property and income of the authority. 1. The property of the
authority and its income and operations shall be exempt from assessments
of every kind and nature.

2. The authority may receive, accept, invest, administer, expend and
disburse for its corporate purposes appropriations from the state and
the park district, and other revenues and moneys made available or to be
made available to it from any or all sources public or private.

3. Any such moneys of the authority not required for immediate use
may, at the discretion of the authority, be invested pursuant to the
provisions of section ninety-eight-a of the state finance law.

4. The authority shall accept from the New York state urban
development corporation, created by chapter one hundred seventy-four of
the laws of nineteen hundred sixty-eight, constituting the New York
state urban development corporation act, all of the personal property
acquired by it from Lake Placid nineteen hundred eighty Olympic
Organizing Games, Inc.