2006 New York Code - Tax Contract By The State.

 
    §  2085.  Tax  contract by the state. The state of New York convenants
  with the purchasers and with all subsequent holders and  transferees  of
  bonds,  notes  or  other obligations issued by the authority pursuant to
  this title, in consideration of the acceptance of and payment  therefor,
  that  the  bonds,  notes  or  other  obligations 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, notes
  or other obligations shall at all times be free from taxation except for
  transfer and estate taxes.