New York Laws
Title 10-B - Upper Mohawk Valley Memorial Auditorium Authority
1949-B - Tax Exemption and Tax Contract by the State.

§ 1949-b. Tax exemption and tax contract by the state. 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 state of New York and is a public purpose. Accordingly, the
authority shall be regarded as performing an essential governmental
function in the exercise of the powers conferred upon it by this title,
and the authority shall not be required to pay any fees, taxes, special
ad valorem levies or assessments of any kind, whether state or local,
including but not limited to fees, taxes, special ad valorem levies or
assessments on real property, franchise taxes, sales taxes or other
taxes, upon or with respect to any property owned by it or under its
jurisdiction, control or supervision, or upon the uses thereof, or upon
or with respect to its activities or operations in furtherance of the
powers conferred upon it by the title, or upon or with respect to any
fares, tolls, rentals, rates, charges, fees, revenues or other income
received by the authority. Notwithstanding the previous sentence, the
authority shall be required to pay water and pure water fees or charges
as may be negotiated by any public corporation. The construction, use,
occupation or possession of any property owned by the authority or the
county, 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 at all times be exempt from taxation.

3. The state hereby convenants with the purchasers and with all
subsequent holders and transferees of bonds issued by the authority
pursuant to this title, in consideration of the acceptance of and
payment for the bonds, that the bonds of the authority issued pursuant
to this title and the income therefrom and all revenues, monies, and
other property pledged to pay or to secure the payment of such bonds
shall at all times be free from taxation.