Section 1742. Exemption of the authority  


Latest version.
  • 1. Notwithstanding any other
      provision of law, any real or personal property, while owned or  subject
      to  any rights of the authority, shall be exempt from all taxes, special
      assessments and special ad valorem levies and from the  payment  of  any
      and all charges, rents or other payments to the city, other than charges
      for  services  provided  by  the  city's  water  and  sewer  systems. In
      addition, any  in  rem  actions  or  proceedings  brought  against  such
      property  by the city or any other actions or proceedings concerning any
      of the above brought against the authority by the  city,  and  any  such
      actions  or  proceedings shall be void and shall be subject to dismissal
      upon application of the authority at the sole expense of the city of New
      York. In no instance shall title to any such property pass to  the  city
      of  New  York  except  by  deed  or  other appropriate document of sale,
      release or conveyance executed by the authority.
        2. Debts of the authority shall not be considered debts of  the  state
      or debts of the city.