New York Laws
Title 6-B - Clifton Park Water Authority
1120-N - Exemption From Taxes, Assessments and Certain Fees.

§ 1120-n. Exemption from taxes, assessments and certain fees. 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 town and the state and is a public purpose and the
authority shall be regarded as performing a governmental function in the
exercise of the powers conferred upon it by this title and shall not be
required to pay any taxes, special ad valorem levies or special
assessments upon any property owned by it or under its jurisdiction,
control or supervision or upon its activities, or any filing, recording
or transfer fees or taxes in relation to instruments filed, recorded or
transferred by it or on its behalf; provided, however, that any real
property owned or under the jurisdiction, supervision or control of the
authority outside of the district shall be exempt from real property
taxes, ad valorem levies or special assessments only pursuant to and to
the extent provided by an agreement with the governing body of the
municipality in which said real property is located. The construction,
use, occupation or possession of any property owned by the authority or
the town, including improvements thereon, by any person or public
corporation under a lease, lease and sublease or any other agreement
shall not operate to abrogate or limit the foregoing exemption,
notwithstanding that the lessee, user, occupant or person in possession
shall claim ownership for federal income tax purposes.

2. Any bonds issued pursuant to this title, together with the income
therefrom, shall be exempt from taxation. For purposes of this
subdivision, the phrase "exempt from taxation" means exempt from direct
taxation in conformity with established judicial interpretation of the
tax exempt status of the obligations of the state and its agencies,
entities, authorities and political subdivisions and thus, the meaning
of such phrase is in conformity with the legislative intent expressed by
section twenty-two of chapter one hundred sixty-six of the laws of
nineteen hundred ninety-one regarding the tax exempt status of
obligations of the state and its agencies. The revenues, moneys and
other properties and activities of the authority shall be exempt from
taxes and governmental fees or charges, whether imposed by the state or
any municipality, including real estate taxes, franchise taxes, sales
taxes or other excise taxes except as otherwise provided in subdivision
one of this section with respect to real property located outside the
district.

3. The state hereby covenants with the purchaser and with all
subsequent holders and transferees of bonds issued by the authority
pursuant to this title that the interest thereon shall be exempt from
taxation. The state further covenants with the holders of such bonds
that all revenues, moneys, and other property pledged to secure the
payment of such bonds shall at all times be free from such taxation.
For purposes of this subdivision, the phrase "exempt from taxation"
means exempt from direct taxation in conformity with established
judicial interpretation of the tax exempt status of the obligations of
the state and its agencies, entities, authorities and political
subdivisions and thus, the meaning of such phrase is in conformity with
the legislative intent expressed by section twenty-two of chapter one
hundred sixty-six of the laws of nineteen hundred ninety-one regarding
the tax exempt status of obligations of the state and its agencies.