Section 2350-M. Exemption from taxes, assessments and certain fees

1. It is
  hereby  determined  that the creation of the agency and the carrying out
  of its corporate purpose is in all  respects  for  the  benefit  of  the
  people  of  the  state  and  is a public purpose and the agency 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 fees, taxes, special ad valorem levies or special assessments of any
  kind, whether state or local, including, but not limited to fees, taxes,
  special ad valorem levies or assessments  on  real  property,  franchise
  taxes,  sales  or  other  taxes,  upon or with respect to any properties
  owned by it or under its jurisdiction, control or supervision,  or  upon
  the  uses  thereof,  or  upon  or  with  respect  to  its  activities or
  operations in furtherance of the powers conferred upon it by this title,
  or upon or with respect to any fees, rents, charges, revenues  or  other
  income received by the agency, 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
  properties owned  by  the  agency,  including  improvements  thereon  or
  thereto,  by the state or any state agency or by the county or any other
  person under a lease, lease and sublease or any  other  agreement  shall
  not  act  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  by the agency pursuant to this title, together
  with the income therefrom, shall at all times be exempt from taxation.
    3. The state  hereby  covenants  with  the  purchasers  and  with  all
  subsequent  holders  and  transferees  of  bonds  issued  by  the agency
  pursuant to this title,  in  consideration  of  the  acceptance  of  and
  payment  for  the bonds, that the bonds of the agency issued pursuant to
  this title and the income therefrom and all revenues, moneys, and  other
  property  pledged to pay or to secure the payment of such bonds shall at
  all times be free from taxation.
    4. The agency may pay, or may enter into agreements with the county or
  any municipality to pay, a sum or  sums  annually  or  otherwise  or  to
  provide  other considerations with respect to of the real property owned
  by the agency located within the county or such municipality.