Section 2618. Property and income of the authority

1. The property of the
  authority and its income and operations shall be exempt from assessments
  of every kind and nature.
    2. The authority may receive, accept, invest, administer,  expend  and
  disburse  for  its  corporate purposes appropriations from the state and
  the park district, and other revenues and moneys made available or to be
  made available to it from any or all sources public or private.
    3. Any such moneys of the authority not  required  for  immediate  use
  may,  at  the  discretion  of the authority, be invested pursuant to the
  provisions of section ninety-eight-a of the state finance law.
    4.  The  authority  shall  accept  from  the  New  York  state   urban
  development  corporation, created by chapter one hundred seventy-four of
  the laws of nineteen hundred  sixty-eight,  constituting  the  New  York
  state  urban  development  corporation act, all of the personal property
  acquired  by  it  from  Lake  Placid  nineteen  hundred  eighty  Olympic
  Organizing Games, Inc.