Title PBA, Public Authorities

§ 3630. General powers of the corporation. Except as limited by this\ntitle, the public health law, the mental hygiene law, the social\nservices law, the education law, the civil practice law and rules, or\nany other applicable law or regulation, the corporation shall have\npowe…

§ 3631. Special powers of the corporation. In order to effectuate the\npurposes of this title, the corporation shall have the following\nadditional powers, except as limited by this title, the public health\nlaw, the mental hygiene law, the social services law, the education law…

§ 3632. Transfer of property; relationship with county; certain gifts,\nloans, and guarantees by the county. 1. (a) The county may give, grant,\nsell, convey, lend, license the use of, or lease to the corporation, and\nthe corporation may accept any property (except monies appro…

§ 3633. Bonds or notes of the corporation. 1. The corporation shall\nhave the power and is hereby authorized, from time to time, to issue\nbonds, notes, or other obligations to pay the cost of any project or for\nany other corporate purpose, including the establishment of reserv…

§ 3634. Remedies of bondholders. Subject to any resolution or\nresolutions adopted pursuant to this title:\n 1. In the event that the corporation shall default in the payment of\nprincipal of or interest on any issue of bonds after the same shall\nbecome due, whether at maturity…

§ 3635. State and county not liable on corporation bonds. 1. The state\nshall not be liable on the bonds or notes of the corporation, and such\nbonds or notes shall not be a debt of the state, and such bonds and\nnotes shall contain on the face thereof a statement to such effect…

§ 3636. Monies of the corporation. All monies of the corporation from\nwhatever source derived shall be paid to the treasurer of the\ncorporation and shall be deposited forthwith in a bank or banks\ndesignated by the corporation. The monies in such accounts shall be paid\nout or…

§ 3637. Bonds; legal investments for fiduciaries. The bonds of the\ncorporation are hereby made securities in which all public officers and\nbodies of the state and all municipalities, all insurance companies and\nassociations and other persons carrying on an insurance business,…

§ 3638. Agreement with state. The state does hereby pledge to and\nagree with the holders of any bonds issued by the corporation pursuant\nto this title and with those persons or public corporations who may\nenter into contracts with the corporation pursuant to the provisions of…

§ 3639. Agreement with county. The county is authorized to pledge to\nand agree with the holders of any bonds issued by the corporation\npursuant to this title and with those persons or public corporations who\nmay enter into contracts with the corporation pursuant to the provis…

§ 364. Deposit and investment of moneys of the authority. All moneys\nof the authority from whatever source derived shall be paid to the\ncomptroller as agent of the authority, who shall not commingle such\nmoneys with any other moneys. Such moneys shall be deposited in a\nsepar…

§ 3640. Tax exemption and tax contract by the state. 1. It is hereby\ndetermined that the creation of the corporation and the carrying out of\nits corporate purposes are in all respects for the benefit of the people\nof the state of New York and are public purposes. Accordingly,…

§ 3641. Actions against corporation. 1. Except in an action for\nwrongful death, no action or special proceeding shall be prosecuted or\nmaintained against the corporation, its members, officers, or employees\nfor personal injury or damage to real or personal property alleged to…

§ 3642. Audit and annual reports. 1. In conformity with the provisions\nof section five of article ten of the state constitution, the accounts\nof the corporation shall be subject to the supervision of the state\ncomptroller, and an annual audit shall be performed by an independ…

§ 3643. Defense and indemnification. The corporation shall not execute\nany of its powers, including the special powers authorized by section\nthirty-six hundred thirty-one of this title, except as necessary to\ncommence its corporate existence, until it has elected to make the\…

§ 3644. Transfer of applications, proceedings, approvals, and permits.\n1. Any application, review, or process in relation to or in furtherance\nof the purposes of or contemplated by this title heretofore filed or\nundertaken, or any proceeding heretofore commenced, or any\ndete…

§ 3645. 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…

§ 3646. Applicability of laws. The provisions of this title shall be\nsubject to the provisions of the civil practice law and rules, the\npublic health law, the mental hygiene law, the social services law, the\neducation law, and any other applicable law or regulation, including…

§ 365. Notes or bonds of the authority. 1. (a) Subject to the\nprovisions of section three hundred sixty-six of this title, the\nauthority shall have the power and is hereby authorized from time to\ntime to issue its negotiable notes and bonds in conformity with\napplicable prov…

§ 3650. Short title. This title shall be known and may be cited as the\n"Nassau County Interim Finance Authority Act".\n

§ 3651. Definitions. For the purposes of this title, unless the\ncontext otherwise requires:\n 1. "Authority" or "Nassau county interim finance authority" means the\npublic benefit corporation created by this title.\n 2. "Bonds" means bonds, notes and other evidences of indebted…

§ 3652. Nassau county interim finance authority. 1. There is hereby\ncreated the Nassau county interim finance authority. The authority shall\nbe a corporate governmental agency and instrumentality of the state\nconstituting a public benefit corporation.\n 2. In accordance with …

§ 3653. Administration of the authority. 1. The authority shall be\nadministered by seven directors appointed by the governor. Of the seven\ndirectors, one each shall be appointed on the written recommendation of\nthe majority leader of the state senate, the speaker of the state…

§ 3654. General powers of the authority. Except as otherwise limited\nby this title, the authority shall have the following powers in addition\nto those specially conferred elsewhere in this title, subject only to\nagreements with bondholders:\n 1. to sue and be sued;\n 2. to ha…

§ 3655. Declaration of need. 1. The county shall determine and declare\nwhether it requests the authority to undertake a financing of costs. Any\nsuch request shall be made by the county executive and approved by the\nlegislature. Any such financing shall be consistent with the …

§ 3656. Bonds of the authority. 1. The authority shall have the power\nand is hereby authorized from time to time to issue bonds in such\nprincipal amounts as it may determine to be necessary pursuant to\nsection thirty-six hundred fifty-five of this title to pay any\nfinanceabl…

§ 3657. Resources of the authority. 1. Subject to the provisions of\nthis title, the directors of the authority shall receive, accept,\ninvest, administer, expend and disburse for its corporate purposes all\nmoney of the authority from whatever sources derived including (a) tax\…

§ 3658. Agreement with the state. The state does hereby pledge to and\nagree with the holders of any issue of bonds issued by the authority\npursuant to this title and secured by such a pledge that the state will\nnot limit, alter or impair the rights hereby vested in the author…

§ 3659. Agreement with the county. The county is authorized to pledge\nto and agree with the holders of any issue of bonds issued by the\nauthority pursuant to this title and secured by such a pledge that the\ncounty will not limit, alter or impair the rights hereby vested in th…

§ 366. Guaranty by the state. 1. To the extent authorized by the\nconstitution at the time of the issuance of notes or bonds, the punctual\npayment of the notes and bonds shall be, and the same hereby is, fully\nand unconditionally guaranteed by the state, both as to principal a…

§ 3660. Bonds legal for investment and deposit. The bonds of the\nauthority are hereby made securities in which all public officers and\nbodies of the state and all public corporations, municipalities and\nmunicipal subdivisions, all insurance companies and associations and\noth…

§ 3661. Tax exemption and tax contract by the state. 1. It is hereby\ndetermined that the creation of the authority and the carrying out of\nits corporate purposes are in all respects for the benefit of the people\nof the state of New York and are public purposes. Accordingly, t…

§ 3662. Actions against the authority. 1. Except in an action for\nwrongful death, no action or 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\nneglig…

§ 3663. Audits. 1. The accounts of the authority shall be subject to\nthe audit of the comptroller and the state comptroller. In addition, the\nauthority shall be subject to an annual financial audit performed by an\nindependent certified accountant selected by the authority. Su…

§ 3664. Remedies of bondholders. Subject to any resolution or\nresolutions adopted pursuant to paragraph (f) of subdivision seven of\nsection thirty-six hundred fifty-six of this title:\n 1. In the event that the authority shall default in the payment of\nprincipal of or interes…

§ 3665. Assistance to the authority; employees of the authority. 1.\nWith the consent of any public corporation, the authority may use\nagents, employees and facilities thereof, paying to such public\ncorporation its agreed proportion of the compensation or costs.\n 2. Officers …

§ 3666. 2000 fiscal year budget modification. 1. The control period as\nset forth in section thirty-six hundred sixty-nine of this title shall\nbe instituted on June thirtieth, two thousand, unless prior to such date\n(a) the county executive, after approval by the legislature, …

§ 3667. County financial plans. 1. The county executive shall prepare\nand submit to the authority a four-year financial plan, initially for\nthe fiscal years ending December thirty-first, two thousand one through\ntwo thousand four, together with the proposed budget for the fis…

§ 3668. Monitoring and review. Except as otherwise provided in section\nthirty-six hundred sixty-nine of this title, the authority shall:\n 1. conduct meetings at least annually;\n 2. conduct audits of the Nassau county industrial development agency\nestablished pursuant to sect…

§ 3669. Control period. 1. The authority shall impose a control\nperiod over the county or the Nassau health care corporation upon its\ndetermination at any time that any of the following events has occurred\nor that there is a substantial likelihood and imminence of such\noccur…

§ 367. State's right to require redemption of bonds. Notwithstanding\nand in addition to any provisions for the redemption of bonds which may\nbe contained in any contract with the holders of the bonds, the state\nmay, upon furnishing sufficient funds therefor, require the autho…

§ 3670. Miscellaneous provisions. 1. Notwithstanding anything to the\ncontrary in title six-A of article two of the local finance law, neither\nthe county nor any covered organization shall file any petition\nauthorized by such title six-A without the approval of the authority a…

§ 3671. Effect of inconsistent provisions. Insofar as the provisions\nof this title are inconsistent with the provisions of any other act,\ngeneral or special, or of any charter, local law, ordinance or\nresolution of any municipality, the provisions of this title shall be\ncont…

§ 3672. Separability; construction. If any clause, sentence,\nparagraph, section, or part of this title shall be adjudged by any court\nof competent jurisdiction to be invalid, such judgment shall not affect,\nimpair or invalidate the remainder thereof, but shall be confined in …

§ 368. Remedies of noteholders and bondholders. 1. In the event that\nthe authority shall default in the payment of principal of or interest\non any issue of notes or bonds after the same shall become due, whether\nat maturity or upon call for redemption, and such default shall …

§ 369. Liability of state. The state shall be liable on notes or bonds\nguaranteed hereunder but shall not be liable on notes or bonds not\nguaranteed by the state which shall not be a debt of the state.\n

§ 370. Notes and bonds legal investments for public officers and\nfiduciaries. The notes and bonds are hereby made securities in which all\npublic officers and bodies of this state and all municipalities and\nmunicipal subdivisions, all insurance companies and associations and\n…

§ 371. Tax exemption. The property of the authority and its income and\noperations shall be exempt from taxation.\n

§ 372. Tax covenant. The state covenants with the purchasers and with\nall subsequent holders and transferees of notes and bonds issued by the\nauthority, in consideration of the acceptance of and payment for the\nnotes and bonds, that the notes and bonds of the authority issued…

§ 373. Agreement of the state. 1. The state does pledge to and agree\nwith the holders of notes, bonds, or other obligations of the authority\nnot guaranteed by the state that the state will not limit or alter the\nrights hereby vested in the authority to establish and collect s…