New York Laws
Title 13-C - Town of Islip Resource Recovery Agency
2046-O - Tax Contract.

§ 2046-o. Tax contract. 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 and gift taxes and taxes on transfers.

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