Title PBA, Public Authorities

§ 2438. Bond authorization. (1) The agency shall not issue bonds and\nnotes in an aggregate principal amount at any one time outstanding\nexceeding one billion dollars, excluding tax lien collateralized\nsecurities, special school purpose bonds, special school deficit program\nb…

§ 2439. Reserve funds and appropriations. The agency shall create and\nestablish one or more special funds to be known as debt service reserve\nfunds and shall pay into such reserve funds (a) any moneys appropriated\nand made available by the state for the purposes of such funds…

§ 2440. Remedies of bondholders and noteholders. (1) In the event that\nthe agency shall default in the payment of principal or of interest on\nany issue of bonds or notes after the same shall become due, whether at\nmaturity or upon call for redemption, and such default shall c…

§ 2441. State and municipalities not liable on bonds and notes. The\nbonds, notes, tax lien collateralized securities and other obligations\nof the agency and its tax lien entity shall not be a debt of the state\nof New York or of any municipality, and neither the state nor any\…

§ 2442. Agreement of the state. (1) The state of New York does hereby\npledge to and agree with the holders of any bonds, notes or tax lien\ncollateralized securities issued under this title that the state will\nnot limit or alter the rights hereby vested in the agency to fulfil…

§ 2443. Property and income. The property of the agency and its income\nand operations shall be exempt from taxation or assessments of every\nkind and nature, nor shall the agency be required to pay any recording\nfee or transfer tax of any kind on account of instruments recorde…

§ 2444. Exemption from taxation of bonds, notes and tax lien\ncollateralized securities. It is hereby determined that the creation of\nthe agency is in all respects for the benefit of the people of the\nstate, for the improvement of their health and welfare, and for the\npromoti…

§ 2445. Bonds and notes as legal investments for public officers and\nfiduciaries. The bonds and notes of the agency are hereby made\nsecurities in which all public officers and bodies of this state and all\nmunicipalities and municipal subdivisions, all insurance companies and\…

§ 2446. Moneys of the agency. (1) Subject to any agreement with\nbondholders or noteholders or except as otherwise authorized or provided\nin this act, all moneys of the agency from whatever source derived shall\nbe paid to the comptroller of the agency and shall be invested in …

§ 2447. Actions. In any case founded upon tort a notice of claim shall\nbe required as a condition precedent to the commencement of an action or\nspecial proceeding against the agency or any officer, appointee or\nemployee thereof, and the provisions of section fifty-e of the ge…

§ 2448. Limitation of liability. Neither the members of the agency,\nnor any person or persons acting in its behalf, while acting within the\nscope of their authority, shall be subject to any personal liability\nresulting from carrying out any of the powers expressly given in th…

§ 2449. Assistance by state officers, departments, boards and\ncommissions. All officers, departments, boards, agencies, divisions and\ncommissions of the state may render any services to the agency as are\nwithin the area of their respective governmental functions as fixed by\n…

§ 2450. Annual report. The agency shall submit to the governor, the\nchairman of the senate finance committee, the chairman of the assembly\nways and means committee, the comptroller and the director of the budget\nwithin six months after the end of its fiscal year, a complete a…

§ 2451. Court proceedings; preferences; venue. Any action or\nproceeding to which the agency or the people of the state of New York\nmay be parties, in which any question arises as to the validity of this\nact, shall be preferred over all other civil causes except election\ncaus…

§ 2452. Inconsistent provisions of other laws superseded. Insofar as\nthe provisions of this title are inconsistent with the provisions of any\nother law, general, special or local, the provisions of this title shall\nbe controlling.\n

§ 2453. Construction. This title, being necessary for the welfare of\nthe state and its inhabitants, shall be liberally construed so as to\neffectuate its purposes.\n

§ 2454. Separability. If any clause, sentence, paragraph, section or\npart of this title shall be adjudged by any court of competent\njurisdiction to be invalid, such judgment shall not effect, impair or\ninvalidate the remainder thereof, but shall be confined in its operation\n…

* § 2460. Short title. This title may be cited as the New York state\nsports authority act.\n * NB (Disbanded March, 1980)\n

* § 2461. Legislative findings. It is hereby found, determined and\ndeclared that there is an immediate need to promote the further\ndevelopment of recreational opportunities in the state by facilitating\nthe acquisition, construction and rehabilitation of sports complexes,\nsta…

* § 2462. Definitions. As used or referred to in this title, unless a\ndifferent meaning clearly appears from the context:\n 1. The term "state" shall mean the state of New York;\n 2. The term "authority" shall mean the corporate body created by\nsection two thousand four hundre…

* § 2463. New York state sports authority. 1. For the purpose of\neffectuating the policy declared in section twenty-four hundred\nsixty-one of this chapter, there is hereby created a corporate\ninstrumentality of the state to be known as "New York state sports\nauthority" in th…

* § 2464. General powers of the authority. Except as otherwise limited\nby this title, the authority shall have power:\n 1. To sue and be sued;\n 2. To have a seal and alter the same at pleasure;\n 3. To acquire, hold and dispose of personal property for its corporate\npurposes,…

* § 2465. Plans for sports facilities. Any participating municipality\nmay by resolution of its governing body or in the case of the city of\nNew York, the board of estimate, prepare and submit a plan to the\nauthority for the acquisition, construction, improvement or\nmoderniza…

* § 2466. The acquisition of real property. 1. The authority may from\ntime to time determine what real property is necessary for the\nconstruction, improvement and operation of a sports facility and for\nparking and access thereto. If funds are made available by the authority\n…

* § 2467. Bond and note authorization. 1. The authority shall have the\npower and is hereby authorized to issue from time to time its negotiable\nbonds and notes in conformity with applicable provisions of the uniform\ncommercial code in such principal amounts as the authority s…

* § 2468. Bonds and notes of the authority. 1. All bonds and notes\nissued by the authority may be secured by the full faith and credit of\nthe authority subject only to any agreements with the holders of\nparticular bonds pledging any particular revenues or moneys of the\nautho…

* § 2469. Security for bonds or notes; construction and acquisition of\nsports facilities. 1. The principal of and interest on any bonds or\nnotes issued by the authority may be secured by a pledge of any revenues\nand receipts of the authority and may be secured by a lease or o…

* § 2470. Resources of authority. 1. The authority may receive,\naccept, invest, administer, expend and disburse for its corporate\npurposes appropriations from the capital construction fund and the state\npurposes fund of the state, payments made to it by participating\nmunicip…

* § 2471. Lease agreements. 1. Any agreement entered into between the\nauthority and a participating municipality may provide for (i) the\nconstruction, acquisition, reconstruction, rehabilitation or improvement\nof one or more sports facilities, and (ii) the leasing thereof and…

* § 2472. Reserve fund. 1. The authority may create and establish one\nor more reserve funds to be known as debt service reserve funds and may\npay into such reserve funds (a) any payments received from a\nparticipating municipality (b) any moneys appropriated and made\navailabl…

* § 2473. State aid guarantee; withholding thereof. 1. In the event\nthat a participating municipality fails to make its required payment, in\nwhole or in part, to the authority, the chairman of the authority shall\ncertify to the comptroller that such municipality has failed to…

* § 2474. Extraordinary conditions provision. In the event that a\nparticipating municipality fails to make its required payment in whole\nor in part, to the authority because of extraordinary conditions beyond\nthe control of the participating municipality as determined by the\…

* § 2475. Remedies of bondholders and noteholders. 1. In the event\nthat the authority shall default in the payment of principal or of\ninterest on any issue of bonds or notes after the same shall become due,\nwhether at maturity or upon call for redemption, and such default sha…

* § 2476. State and municipalities not liable on bonds and notes. The\nbonds, notes and other obligations of the authority shall not be a debt\nof the state of New York or of any municipality, and neither the state\nnor any municipality shall be liable thereon, nor shall they be…

* § 2477. Agreement of the state. The state of New York does hereby\npledge to and agree with the holders of any bonds or notes issued under\nthis title that the state will not limit or alter the rights hereby\nvested in the authority to fulfill the terms of any agreements made …

* § 2478. Property and income. The property of the authority and its\nincome and operations shall be exempt from taxation, assessments or\nservice charges of every kind and nature, and the authority shall not be\nrequired to pay any recording fee or transfer tax of any kind on a…

* § 2479. Exemption from taxation of bonds and notes. It is hereby\ndetermined that the creation of the authority is in all respects for the\nbenefit of the people of the state, for the improvement of their health\nand welfare, and for the promotion of the economy, and that said…

* § 2480. Bonds and notes as legal investments for public officers and\nfiduciaries. The bonds and notes of the authority are hereby made\nsecurities in which all public officers and bodies of this state and all\npolitical subdivisions thereof, all insurance companies and associ…

* § 2481. Actions. In any case founded upon tort a notice of claim\nshall be required as a condition precedent to the commencement of an\naction or special proceeding against the authority or any officer,\nappointee or employee thereof, and the provisions of section fifty-e of\n…

* § 2482. Limitation of liability. Neither the members of the\nauthority, nor any person or persons acting in its behalf, while acting\nwithin the scope of their authority, shall be subject to any personal\nliability resulting from carrying out any of the powers expressly given\…

* § 2483. Assistance by state officers, departments, boards and\ncommissions. All officers, departments, boards, agencies, divisions and\ncommissions of the state may render any services to the authority as are\nwithin the area of their respective governmental functions as fixed…

* § 2484. Annual report. The authority shall submit to the governor,\nthe chairman of the senate finance committee, the chairman of the\nassembly ways and means committee, the comptroller and the director of\nthe budget within six months after the end of its fiscal year, a\ncomp…

* § 2485. Court proceedings; preferences; venue. Any action or\nproceeding to which the agency or the people of the state of New York\nmay be parties, in which any question arises as to the validity of this\nact, shall be preferred over all other civil causes except election\nca…

* § 2486. Inconsistent provisions of other laws superseded. Insofar as\nthe provisions of this title are inconsistent with the provisions of any\nother law, general, special or local, the provisions of this title shall\nbe controlling.\n * NB (Disbanded March, 1980)\n

* § 2487. Construction. This title, being necessary for the welfare of\nthe state and its inhabitants, shall be liberally construed so as to\neffectuate its purposes.\n * NB (Disbanded March, 1980)\n

* § 2488. Separability. If any clause, sentence, paragraph, section or\npart of this title shall be adjudged by any court of competent\njurisdiction to be invalid, such judgment shall not affect, impair or\ninvalidate the remainder thereof, but shall be confined in its operation…

§ 2490-a. Short title. This title may be cited as the "Saratoga\nSprings city center authority".\n

§ 2490-b. Definitions. As used or referred to in this title, unless a\ndifferent meaning clearly appears from the context:\n 1. The term "authority" shall mean the corporation created by section\ntwenty-four hundred ninety-c of this title;\n 2. The term "city" shall mean the cit…

§ 2490-c. Saratoga Springs city center authority. A board to be known\nas the Saratoga Springs city center authority is hereby created. The\nboard shall be a body corporate and politic, constituting a public\nbenefit corporation, and its existence shall commence upon the\nappoin…

§ 2490-d. Purposes and powers of the authority. The purposes of the\nauthority shall be to construct, operate and maintain the project\nconsisting of the Saratoga Springs city center authority and facilities\nin connection therewith. To carry out the purposes the authority shall…