2006 New York Code - Exemption From Taxation Of Bonds, Notes And Tax Lien Collateralized Securities.

 
    §  2444.  Exemption  from  taxation  of  bonds,  notes  and  tax  lien
  collateralized securities. It is hereby determined that the creation  of
  the  agency  is  in  all  respects  for the benefit of the people of the
  state, for the improvement of their health  and  welfare,  and  for  the
  promotion of the economy, and that said purposes are public purposes and
  the  agency will be performing an essential governmental function in the
  exercise of the powers conferred upon it by this title,  and  the  state
  covenants with the purchasers and all subsequent holders and transferees
  of  bonds,  notes,  and tax lien collateralized securities issued by the
  agency and its tax lien entity, in consideration of  the  acceptance  of
  and payment for the bonds, notes, and tax lien collateralized securities
  that  the  bonds,  notes  and  tax lien collateralized securities of the
  agency, and its tax lien entity, issued pursuant to this title  and  the
  income  therefrom  and  all  its fees, charges, gifts, grants, revenues,
  receipts, and other moneys received or to be received, pledged to pay or
  secure the payment of such  bonds,  notes  or  tax  lien  collateralized
  securities  shall  at all times be free from taxation, except for estate
  or gift taxes and taxes on transfers.