Section 1599-M. Tax exemptions

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 city of  Niagara
  Falls 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 be required to pay no
  taxes or assessments upon any of the property acquired by  it  or  under
  its jurisdiction or control or supervision or upon its activities.
    2. Any bonds or notes issued pursuant to this title, together with the
  income  therefrom,  as  well  as the property of the authority, shall be
  exempt from taxation, except for transfer and estate taxes.
    * NB Authority ceased to exist 07/01/1974
    * NB There are 4 § 1599-m's