Section 1020-M. Exemption from taxes

1. It is hereby determined that the
  creation of the authority and the carrying out of its corporate purposes
  is in all respects for the benefit of the people of the village and  its
  environs,  and  is a public purpose, and the authority shall be regarded
  as performing a governmental function in  the  exercise  of  the  powers
  conferred  upon  it  by  this title and shall not be required to pay any
  taxes, special ad valorem levies or special assessments upon any of  the
  properties  acquired  by  it  or  under  its  jurisdiction or control or
  supervision or upon its activities or any filing, recording or  transfer
  fees  or taxes in relation to instruments filed, recorded or transferred
  by it or on its behalf.
    2. Any bonds issued pursuant to this title, together with  the  income
  therefrom,  shall be exempt from taxation except for estate and transfer
  taxes. The revenues, moneys and all other properties  of  the  authority
  shall be exempt from all taxes and governmental fees or charges, whether
  imposed  by  the state or any municipality, including without limitation
  real estate taxes, franchise taxes, sales taxes or other excise taxes.
    * NB There are 2 § 1020-m's