General Municipal Law 411 — Legislation
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SECTION 410
Undertakings to be self-supporting
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Revenue-producing Undertakings
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SECTION 412
Use of revenue of undertaking
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SECTION 411
Undertaking exempt from taxation
General Municipal (GMU) CHAPTER 24, ARTICLE 14-C
§ 411. Undertaking exempt from taxation. So long as a municipality
shall own any undertaking, the property, within the municipality, and
all revenue of such undertaking shall be exempt from taxation.