400 – Short Title.
§ 400. Short title. This article may be cited as the “revenue-producing undertaking law. “
402 – Declaration of Policy.
§ 402. Declaration of policy. It is hereby declared to be the policy of this state that any municipality acquiring, constructing, reconstructing, improving, bettering or extending an undertaking pursuant to this article shall manage such undertaking in the most efficient manner consistent with sound economy and public advantage to the end that the services of […]
403 – Additional Powers of Municipality.
§ 403. Additional powers of municipality. In addition to the powers which it may now have, any municipality shall have power under this article; (a) to acquire by gift, purchase, or the exercise of the right of eminent domain, to construct, reconstruct, improve, better or extend any undertaking, within or without the municipality, or partially […]
403-A – Future Acquisition or Construction of Undertakings by Towns Prohibited.
§ 403-a. Future acquisition or construction of undertakings by towns prohibited. Any provision of this article to the contrary notwithstanding, no town, on and after the effective date of this section, shall have the power to acquire or construct any undertaking pursuant to the provisions of this article.
404 – Authorization of Undertaking.
§ 404. Authorization of undertaking. The acquisition, construction, reconstruction, improvement, betterment or extension of any undertaking may be authorized under this article by resolution or resolutions of the governing body of the municipality which may be adopted at a regular or special meeting and at the same meeting at which they are introduced by a […]
407 – Lien of Bonds.
§ 407. Lien of bonds. If bonds are issued to carry out any of the purposes of this article, bonds of the same issue shall, subject to the prior and superior rights of outstanding bonds, claims or obligations, have a prior and paramount lien on the revenue of the undertaking for which said bonds have […]
410 – Undertakings to Be Self-Supporting.
§ 410. Undertakings to be self-supporting. The governing body of a municipality issuing bonds to carry out any of the purposes of this article shall prescribe and collect reasonable rates, fees, tolls or charges for the services, facilities and commodities of such undertaking, and shall revise such rates, fees, tolls or charges from time to […]
411 – Undertaking Exempt From Taxation.
§ 411. Undertaking exempt from taxation. So long as a municipality shall own any undertaking, the property, within the municipality, and all revenue of such undertaking shall be exempt from taxation.
412 – Use of Revenue of Undertaking.
§ 412. Use of revenue of undertaking. Any municipality issuing bonds for the acquisition, construction, reconstruction, improvement, betterment or extension of an undertaking shall have the right to appropriate, apply or expend the revenue of such undertaking for the following purposes: (a) to pay when due all bonds and interest thereon, for the payment of […]
413 – Consent and Jurisdiction of State and Municipal Agencies.
§ 413. Consent and jurisdiction of state and municipal agencies. The provisions of this article shall not operate to dispense with the approval by or to affect the jurisdiction of any state, county, or municipal board, officer, commission, department or agency of or over the acquisition, construction, reconstruction, improvement, betterment, extension, maintenance or operation of […]
414 – Competing Undertakings Not Authorized.
§ 414. Competing undertakings not authorized. No municipality shall have power under this article to construct any undertaking in contravention of any act of the legislature of the state of New York whereby the state of New York pledges to or agrees with the holders of any bonds issued or to be issued pursuant to […]
415 – Construction of Article.
§ 415. Construction of article. The powers conferred by this article shall be in addition and supplemental to and not in substitution for, and the limitations imposed by this article shall not affect the powers conferred by any other general, special or local law. The powers conferred by this article shall not be affected by […]
416 – Separability of Provisions.
§ 416. Separability of provisions. If any provision of this article or the application of such provision to any person, body, or circumstance shall be held invalid, the remainder of this article or the application of such provision to persons, bodies, or circumstances other than those as to which it shall have been held invalid, […]