The Foundation and any income or property received or owned by
it, and all transactions relating to such income or property, shall
be exempt from all Federal, State, and local taxation with respect
thereto. The Foundation may, however, in the discretion of its
directors, contribute toward the costs of local government in
amounts not in excess of those which it would be obligated to pay
such government if it were not exempt from taxation by virtue of
the foregoing or by virtue of its being a charitable and nonprofit
corporation and may agree so to contribute with respect to property
transferred to it and the income derived therefrom if such
agreement is a condition of the transfer. Contributions, gifts, and
other transfers made to or for the use of the Foundation shall be
regarded as contributions, gifts, or transfers to or for the use of
the United States.
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