General Municipal Law 876 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 875 Special provisions applicable to state sales and compensating use taxes and certain types of facilities up TITLE 1 Agencies, Organization and Powers next SECTION 878 Remedies of bondholders and noteholders Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 876 Tax contract by the state General Municipal (GMU) CHAPTER 24, ARTICLE 18-A, TITLE 1 § 876. Tax contract by the state. The state covenants with the purchasers and with all subsequent holders and transferees of bonds or notes issued by the agency pursuant to this title, in consideration of the acceptance of and payment for the bonds or notes, that the bonds and notes of the agency 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 or notes shall at all times be free from taxation except for estate taxes and taxes on transfers by or in contemplation of death.