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2012 New York Consolidated Laws
PBA - Public Authorities
Article 7 - PARKING AUTHORITIES
Title 22 - (1622-A - 1622-T) VILLAGE OF NYACK PARKING AUTHORITY
1622-N - Tax exemptions.


NY Pub Auth L § 1622-N (2012) What's This?
 
    § 1622-n. Tax exemptions. 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  Nyack  and
  its  environs,  and  is  a  public  purpose,  and the authority shall be
  regarded  as  performing  an  essential  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.

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