DATED: 1987

Local Law NO. 2
SECTION 1. The purpose of this local law is to stimulate economic
development in the County of Montgomery by providing favorable taxation
conditions for the construction, alteration, installation or improvement
of real property in any designated economic zone in the County of
Montgomery and thereby better improve and enhance the economic well
being of the people of the County of Montgomery.

SECTION 2. Real property constructed, altered. installed or
improved in an area in the County of Montgomery. New York, designated
as an economic development zone pursuant to Article 18-b of the General
Municipal Law shall be exempt from taxation and special ad valorem
levies by the County of Montgomery for the period and to the extent
provided in Section 485-e Real Property Tax Law of the State of New
York.

SECTION 3. This local law shall take effect immediately.