Section 1063. 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 county  of  Erie
  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
  property  owned  by it or under its jurisdiction, control or supervision
  or upon its activities, or any filing, recording or  transfer  taxes  in
  relation  to  instruments filed, recorded or transferred by it or on its
  behalf.
    2. Any bonds or notes issued pursuant to this title, together with the
  income therefrom shall be exempt from taxation, except for transfer  and
  estate  taxes.  The  revenues,  monies  and  other  properties  and  the
  activities of the authority shall be exempt from taxes and  governmental
  fees  or  charges,  whether  imposed  by  the state or any municipality,
  including real estate taxes, franchise taxes or other excise taxes.