Title PBA, Public Authorities

§ 2490-e. Acquisition of land for the project. 1. The authority may\nacquire lands by purchase or condemnation for the project. It shall have\nthe power to sell, lease or otherwise dispose of said real property and\nshall retain and have the power to use the proceeds of sale, re…

§ 2490-f. Civil service status of employees. The appointment and\npromotion of all employees of the authority shall be made in accordance\nwith the provisions of the civil service law and the rules of the city\nof Saratoga Springs civil service commission, and such employees sha…

§ 2490-g. Contracts. The authority shall let contracts for\nconstruction and materials in the manner provided by law for contracts\nof the city.\n

§ 2490-h. Moneys of the authority. 1. All moneys of the authority\nshall be paid to the commissioner of finance of the city of Saratoga\nSprings as agent for the authority, who shall designate depositories and\nwho shall not commingle such moneys with any other moneys. The money…

§ 2490-i. Bonds of the authority. 1. The authority shall have the\npower and is hereby authorized from time to time to issue its negotiable\nbonds in conformity with applicable provisions of the uniform commercial\ncode for its corporate purposes in the aggregate principal amoun…

§ 2490-j. Remedies of bondholders. Subject to any resolution or\nresolutions adopted pursuant to paragraph (j) of subdivision three of\nsection twenty-four hundred ninety-i of this title. 1. In the event that\nthe authority shall default in the payment of principal of or interes…

§ 2490-k. State, city and municipalities not liable on authority\nbonds. Neither the state, the city nor any other municipality or public\ncorporation shall be liable on the bonds of the authority and such bonds\nshall not be a debt of the state, the city or any other municipali…

§ 2490-l. Bonds legal investment for fiduciaries. The bonds of the\nauthority are hereby made securities in which all public officials and\nbodies of the state and all municipalities, all insurance companies and\nassociations and other persons carrying on an insurance business, …

§ 2490-m. Agreement with the state. The state hereby pledges to and\nagrees with the holders of any bonds issued by the authority pursuant to\nthis title, that the state will not alter or limit the rights hereby\nvested in the authority to purchase, construct, maintain, operate,…

§ 2490-n. Exemption from taxes, assessments and certain fees. 1. It is\nhereby determined that the creation of the authority and the carrying\nout of its corporate purposes is in all respects for the benefit of the\npeople of the state and is a public purpose and the authority s…

§ 2490-o. Actions against authority. 1. Except in an action for\nwrongful death, no action or special proceeding shall be prosecuted or\nmaintained against the authority for personal injury or damage to real\nor personal property alleged to have been sustained by reason of the\n…

§ 2490-p. Title not affected if in part unconstitutional or\nineffective. If any section, clause or provision of this title shall be\nunconstitutional or be ineffective in whole or in part, to the extent\nthat it is not unconstitutional or ineffective, it shall be valid and\neff…

§ 2490-q. Inconsistent provisions in other acts superseded. Insofar as\nthe provisions of this title are inconsistent with the provisions of any\nother act, general or special, or of any local law of the city, the\nprovisions of this title shall be controlling.\n

* § 2500. Short title. This title may be cited as the "New York city\nsports authority act".\n * NB (Discontinued-Board of Directors never appointed)\n

* § 2501. Definitions. As used or referred to in this title, unless a\ndifferent meaning clearly appears from the context, the following terms\nshall mean and include:\n 1. "Amortized value". For securities purchased at a premium above or a\ndiscount below par, the value as of a…

* § 2502. Legislative findings and statement of purposes. It is\nhereby found, determined and declared that the city has acquired certain\nlarge sports facilities located in the city, including Yankee stadium,\nShea stadium, Randall's island stadium and Singer bowl and may\ncont…

* § 2503. New York city sports authority. 1. There is hereby created\nthe New York city sports authority which shall be a corporate\ngovernmental agency, constituting a public benefit corporation. Upon\nsubmission of a plan pursuant to section twenty-four hundred sixty-five\nof …

* § 2504. General powers of the authority. In the exercise of the\npowers conferred and the performance of duties imposed upon the\nauthority and subject to limitations contained elsewhere in this title,\nthe authority shall have the following general powers:\n 1. To sue and be …

* § 2505. Acquisition of real property for the authority and contracts\nwith the city. 1. The city may, by resolution of the board of estimate,\nor by deed authorized by such a resolution, convey for so long as the\nauthority's corporate existence shall continue, lease for not m…

* § 2506. Moneys of the authority. 1. Subject to the provisions of\nthis title, the members of the authority shall receive, accept, invest,\nadminister, expend and disburse for its corporate purposes all monies\nfor the authority from whatever sources derived.\n 2. The monies of…

* § 2507. Employees of the authority. 1. Notwithstanding any\ninconsistent provision of this title, the appointment and promotion of\nall employees of and for the authority shall be made in accordance with\nthe provisions of the civil service law under the rules of the city\nciv…

* § 2508. Contracts of the authority. 1. All contracts for the\nconstruction, reconstruction, rehabilitation or improvement of buildings\nor structures shall be let in the manner provided by law for contracts\nof the city. The authority in preparing separate specifications may\n…

* § 2508-a. Certain property acquired by authority. In the event that\nthe New York state sports authority upon full amortization of any\noutstanding bonds issued for the acquisition, construction or\nrehabilitation of a sports facility, transfers such sports facility to\nthe au…

* § 2508-b. Payments to the city. Notwithstanding any provision of\nlaw, the authority may with respect to any sports facility provide in\nany lease or sublease that rental payments to the authority made\npursuant to such lease or sublease shall include an amount which the\nauth…

* § 2509. 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…

* § 2510. 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…

* § 2511. Security for bonds or notes. 1. The principal of and\ninterest on any bonds or notes issued by the authority may be secured by\na pledge of any revenues and receipts of the authority and may be\nsecured by a lease or other instrument covering all or any part of a\nspor…

* § 2512. Reserve fund. The authority may create and establish one or\nmore reserve funds to be known as debt service reserve funds and may pay\ninto such reserve funds (a) any moneys appropriated and made available\nby the city for the purposes of such funds (b) any proceeds of…

* § 2513. 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 maturty or upon call for redemption, and such default shal…

* § 2514. State and city not liable on bonds and notes. The bonds,\nnotes and other obligations of the authority shall not be a debt of the\nstate of New York or of the city or of any other municipality in the\nstate, and neither the state nor any municipality shall be liable\nt…

* § 2515. 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 …

* § 2516. 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…

* § 2517. 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…

* § 2518. Bonds and notes as legal investments. The bonds and notes of\nthe authority are hereby made securities in which all public officers\nand bodies of this state and all municipalities and municipal\nsubdivisions, all insurance companies and associations and other persons\…

* § 2519. Legal officer of the authority. The Corporation Counsel\nshall be attorney and counsel of the authority and shall approve all\nlegal documents as to form.\n * NB (Discontinued-Board of Directors never appointed)\n

* § 2520. Actions against authority. 1. Except in an action for\nwrongful death, an action against the authority for personal injury,\nreal or personal property damage or destruction or founded on tort shall\nnot be commenced more than one year and ninety days after the cause of…

* § 2521. Applicability. The authority shall not acquire, construct or\noperate any sports or other facility in the Borough of Brooklyn.\n * NB (Discontinued-Board of Directors never appointed)\n

§ 2530. Short title. This title may be cited as the "New York City\nStabilization Reserve Corporation Act".\n

§ 2531. Definitions. For the purposes of this title:\n 1. "City" means the city of New York.\n 2. "Director of management and budget" means the director of\nmanagement and budget of the city of New York.\n 3. "Corporation" means the New York city stabilization reserve\ncorporati…

§ 2532. New York city stabilization reserve corporation. (a) There is\nhereby created the New York city stabilization reserve corporation. The\ncorporation shall be a corporate governmental agency constituting a\npublic benefit corporation. It shall have the powers and privilege…

§ 2533. Legislative findings and declaration of purposes. The\nlegislature hereby finds and declares that the city of New York is faced\nwith a grave and unprecedented fiscal crisis which threatens the city's\nability to provide essential services and thereby endangers the welfa…

§ 2534. Administration of the corporation. (1) The corporation shall\nbe administered by three directors, one of whom shall be the director of\nmanagement and budget. The remaining two directors shall be appointed by\nthe mayor, no more than one of whom may be a city official. D…

§ 2535. General powers of the corporation. The corporation shall have\nthe following powers in addition to those specially conferred elsewhere\nin this title: (1) to sue and be sued; (2) to have a seal and alter the\nsame at pleasure; (3) to make and alter by-laws for its organi…

§ 2536. Notes and bonds of the corporation. 1. (a) The corporation\nshall have power and is hereby authorized from time to time to issue its\nnegotiable notes and bonds in conformity with applicable provisions of\nthe uniform commercial code in such principal amount, as the corp…

§ 2537. Reserve fund and appropriations. 1. (a) The corporation shall\ncreate and establish a special fund (herein referred to as the capital\nreserve fund) on or before December first, nineteen hundred seventy-five\nand shall pay into such capital reserve fund (1) any monies ap…

§ 2538. Payments to the city. (a) In the event that the mayor of such\ncity certifies to the corporation an amount which is not in excess of\none hundred fifty million dollars as the amount which is required by\nsuch city during the city fiscal year nineteen hundred\nseventy-thr…

§ 2539. Resources of the corporation. (a) Subject to the provisions of\nthis title, the directors of the corporation shall receive, accept,\ninvest, administer, expend and disburse for its corporate purposes all\nmonies for the corporation from whatever sources derived including…

§ 2540. Payments to the corporation. (a) Since the corporation's\ncontinued discharge of its public and governmental purpose is of benefit\nto the city, the city shall pay, within the appropriations available\ntherefor, the expenses of the establishment and continued operation o…

§ 2541. Agreement with the state. The state does hereby pledge to and\nagree with the holders of any notes or bonds issued under this title\nthat the state will not limit or alter the rights hereby vested in the\ncorporation to fulfill the terms of any agreements made with the s…

§ 2542. State and city not liable on notes and bonds. The notes, bonds\nor other obligations of the corporation shall not be a debt of either\nthe state or the city, and neither the state nor the city shall be\nliable thereon, nor shall they be payable out of any funds other tha…