1916 - Tax contract by the state.

§  1916.  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,  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 transfer and  estate  taxes.