ยง 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.
Structure New York Laws
Article 7 - Parking Authorities
Title 22 - Village of Nyack Parking Authority
1622-C - Village of Nyack Parking Authority.
1622-D - Purpose and Powers of the Authority.
1622-E - Civil Service Status of Officers and Employees.
1622-G - Construction and Purchase Contracts.
1622-H - Moneys of the Authority.
1622-I - Bonds of the Authority.
1622-J - Notes of the Authority.
1622-K - Agreements of the Village and the State.
1622-L - State and Village Not Liable on Bonds.
1622-M - Bonds and Notes Legal Investments for Public Officers and Fiduciaries.
1622-O - Tax Contract by the State.
1622-P - Remedies of Bondholders.
1622-Q - Actions Against the Authority.
1622-R - Termination of the Authority.
1622-S - Title Not Affected if in Part Unconstitutional or Ineffective.