1366 - Exemption from taxation.

§  1366.  Exemption  from  taxation.  It is hereby determined that the  creation of the authority and the carrying out of its corporate purposes  is in all respects for the benefit of  the  people  of  Oswego  and  its  environs,  and  is a public purpose, and the authority shall be regarded  as performing a governmental function in  the  exercise  of  the  powers  conferred  upon  it by this act and shall be required to pay no taxes or  assessments upon any of the properties  acquired  by  the  authority  or  under  its jurisdiction, control or supervision, or upon its activities.  Bonds or notes issued pursuant to this act,  together  with  the  income  therefrom, as well as the property of the authority shall be exempt from  taxation except for transfer and estate taxes.