Section 1600-NN. 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  village  of
  Sleepy  Hollow  and  its  environs,  and  is  a  public purpose, and the
  authority shall be regarded  as  performing  an  essential  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.