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2018 New York Laws
EDN - Education
Title 1 - General Provisions
Article 10-B - City of Yonkers Educational Construction Fund
492 - Exemptions From Taxation.

Universal Citation: NY Educ L § 492 (2018)
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§ 492. Exemptions  from  taxation.  1.  It is hereby declared that the
  creation of the fund and the carrying out of its corporate  purposes  is
  in all respects for the benefit of the people of the city of Yonkers and
  state  of  New  York  and  for  the improvement of their health, safety,
  welfare and security and is a public  purpose  and  the  fund  shall  be
  regarded  as  performing  a governmental function in the exercise of the
  powers conferred upon it by this article.

2. The monies and properties of the  fund,  including  all  properties
  constructed, acquired, reconstructed, rehabilitated or improved by it or
  on  its  behalf  and  all  properties under its jurisdiction, control or
  supervision, and all of its operations and activities  shall  be  exempt
  from taxation.

3.  The  notes  and bonds of the fund issued pursuant to this article,
  and the income therefrom, and all fees, charges, rents,  gifts,  grants,
  revenues,  receipts  and  other monies received or to be received by the
  fund shall at all times be free from taxation,  except  for  estate  and
  gift taxes and taxes on transfers.

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