ยง 54. Exemption from taxation of notes and bonds. It is hereby
determined that the creation of the agency is in all respects for the
benefit of the people of the state and for the improvement of their
health, safety, welfare, comfort and security, and that said purposes
are public purposes and that the agency will be performing an essential
governmental function in the exercise of the powers conferred upon it by
this article. The state covenants with the purchasers and all subsequent
holders and transferees of notes and bonds issued by the agency, in
consideration of the acceptance of and payment for the notes and bonds,
that the notes and bonds of the agency, issued pursuant to this article
and the income therefrom and all its fees, charges, gifts, grants,
revenues, receipts, and other monies received or to be received, pledged
to pay or secure the payment of such notes or bonds shall at all times
be free from taxation, except for estate and gift taxes and taxes on
transfers.
Structure New York Laws
Article 3 - New York State Housing Finance Agency
41 - Statement of Legislative Findings and Purposes.
43 - New York State Housing Finance Agency.
44-A - Low Rent Dwelling Accommodations.
44-B - Mortgage Modifications, Evidence of Pre-Existing Indebtedness.
44-C - Federally-Aided Mortgage Loans.
45 - Transfer of Officers and Employees.
45-A - Housing Trust Fund Corporation.
45-B - Affordable Housing Corporation.
45-C - Homeless Housing and Assistance Corporation.
46 - Notes and Bonds of the Agency.
47 - Reserve Funds and Appropriations.
47-A - State University Construction Bonds and Notes.
47-B - Mental Hygiene Improvement Bonds and Notes.
47-C - Special Provisions Related to Certain Bonds and Notes.
47-D - Health Facilities Bonds and Notes.
47-E - Housing Program Bonds and Notes.
48 - Agreement With the State.
49 - State's Right to Require Redemption of Bonds.
50 - Remedies of Noteholders and Bondholders.
51-A - Federal Rental Assistance Program Administrative Fees.
52 - Notes and Bonds as Legal Investment.
53 - Exemption From Taxation of Property and Income.
54 - Exemption From Taxation of Notes and Bonds.
55 - Assistance by State Officers, Departments, Boards and Commissions.
56-A - Indemnification of Members, Officers and Employees.
57 - Insured Mortgage Reserve Fund.
58 - Special Revenue Housing Coverage Reserve Funds.
59 - Bond Reserve Insurance Fund.
59-A - Housing Trust Fund Account.
59-B - Affordable Housing Development Account.
59-C - Insured Housing Initiatives Fund.
59-D - Turnkey/enhanced Housing Account.
59-E - Infrastructure Development Fund.
59-G - Permanent Housing for Homeless Families Fund.
59-H - Manufactured Home Cooperative Fund.
59-I - Homeless Housing and Assistance Account.
60 - Housing Project Repair Fund.