Section 2052-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 town and the state and is a public purpose and a matter of
  state  concern  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  fees  or taxes in relation to
  instruments filed, recorded or transferred  by  it  or  on  its  behalf;
  provided,   however,   that   any  real  property  owned  or  under  the
  jurisdiction, supervision or control of the  authority  outside  of  the
  district  shall be exempt from real property taxes, ad valorem levies or
  special assessments only pursuant to and to the extent  provided  by  an
  agreement with the governing body of the municipality in which said real
  property  is located. The construction, use, occupation or possession of
  any property owned by the authority or the town, 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.
    2. Any bonds issued pursuant to this title together  with  the  income
  therefrom  shall  be exempt from taxation except for transfer and estate
  taxes. The revenues, moneys and all other property and all activities 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.
    3.  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 and
  payment for the bonds, that the bonds of the authority  issued  pursuant
  to  this  title  and  the  income  therefrom  shall  be exempt from such
  taxation, as aforestated in subdivision two of this  section,  and  that
  all  revenues,  moneys, and other property pledged to secure the payment
  of such bonds shall at all times be free from such taxes as  aforestated
  in such subdivision.
    * NB There are 2 § 2052-n's