New York Laws
Title 1 - Agencies, Organization and Powers
876 - Tax Contract by the State.

§ 876. Tax contract by the state. 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 taxes and taxes on transfers by or in
contemplation of death.

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