* § 1020-n. 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 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 shall be exempt from such taxation, as aforestated in subdivision two of section one thousand twenty-m of this article, and that all moneys, funds and revenues pledged to pay or secure the payment of such bonds shall at all times be free from such taxation as aforestated in such subdivision.

Terms Used In N.Y. Public Authorities Law 1020-N*2

  • Contract: A legal written agreement that becomes binding when signed.

* NB There are 2 § 1020-n's

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