There is a newer version
of
the New York Laws
2019 New York Laws
GMU - General Municipal
Article 18-A - Industrial Development
Title 1 - Agencies, Organization and Powers
876 - Tax Contract by the State.
Universal Citation: NY Gen Mun L § 876 (2019)
§ 876. Tax contract by the state. The state covenants with the purchasers and with all subsequent holders and transferees of bonds or notes issued by the agency pursuant to this title, in consideration of the acceptance of and payment for the bonds or notes, that the bonds and notes of the agency 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 or notes shall at all times be free from taxation except for estate taxes and taxes on transfers by or in contemplation of death.
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