Section 2051-N. Exemption from taxes, assessments and certain fees

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  and  the  state 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 or assessments upon any property owned by it
  or under its jurisdiction, 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. The
  construction, use, occupation or possession of any property owned by the
  authority or the county, including improvements thereon, by  any  person
  or  public  corporation  under  a lease, lease and sublease or any other
  agreement  shall  not  operate  to  abrogate  or  limit  the   foregoing
  exemption,  notwithstanding that the lessee, user, occupant or person in
  possession shall  claim  ownership  for  federal  income  tax  purposes.
  Mortgages  made  or  financed,  directly or indirectly, by the authority
  shall be exempt from the mortgage recording  taxes  imposed  by  article
  eleven  of the tax law. The authority shall be deemed a public authority
  for the purposes of section four hundred twelve of the real property tax
  law.
    2. Any bonds issued pursuant to this title together  with  the  income
  therefrom  as well as the property of the authority shall be exempt from
  taxes, except for transfer and estate taxes. The state hereby  covenants
  with  the  purchasers and with all subsequent holders and transferees of
  bonds issued by the authority pursuant to this title,  in  consideration
  of  the  acceptance  of any payment for the bonds, that the bonds of the
  authority issued pursuant to this title and the income therefrom and all
  revenues, moneys, and other property pledged to secure  the  payment  of
  such bonds shall at all times be free from taxation, except for transfer
  and estate taxes.
    * NB There are 3 § 2051-n's