2006 New York Code - Tax Exemptions.

 
    §  1595-n  Tax  examinations.  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 Owego
  and its environs, and is a public purpose, and the  authority  shall  be
  regarded  as  performing  a 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, except for transfer and estate taxes.