1470-N – Tax Contract by the State.

* § 1470-n. Tax contract by the state. The state of New York 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,  and
  all  moneys,  funds and revenues pledged to pay or secure the payment of
  such bonds, shall at all times be free from taxation except  for  estate
  taxes and taxes on transfers by or in contemplation of death.
* NB  City  of Rome Parking Authority ceased to exist 12/31/2000 per §
  1470-b, and thereafter until all liabilities have  been  met/discharged,
  and all bonds paid/discharged