211 - Exemption from taxation. - New York Statutes

* § 211. Exemption from taxation. The construction, maintenance and operation of Bethpage park is in all respects for the benefit of the people of the state of New York for the increase of their pleasure, convenience and welfare and for the improvement of their health, and the authority shall be regarded as performing a governmental function in carrying out its corporate purpose and shall be required to pay no taxes or assessments of any kind whatsoever upon any of the property acquired by it, which said property shall be exempt from taxation so long as the same is owned or possessed by the authority, or upon its activities in the operation and maintenance of Bethpage park or upon any revenues or other income received by it, and any mortgage of real property executed, given or made by the authority shall be exempt from any tax imposed on the recording thereof and any person or corporation owning any debt or obligation of the authority secured by any mortgage of its real property shall be exempt from any tax on the recording of such mortgage. Nothing in this section shall be construed, however, to impress any trust upon such property as such or to limit the absolute character of any title which may be derived through the authority by sale or the foreclosure of any lien or mortgage thereon. * NB (Abolished in 1975)