3960 – Additional Provisions.
§ 3960. Additional provisions. 1. Notwithstanding any provision to the contrary in title six-A of article two of the local finance law, neither the county nor any covered organization shall file any petition authorized by such title six-A without the approval of the authority and the state comptroller. No such petition shall be filed as […]
3961 – Declaration of Need for Financial Assistance to the County.
§ 3961. Declaration of need for financing assistance to the county. 1. The county shall determine and declare whether it requests the authority to undertake a financing of costs for the county or any covered organization. Any such request shall be made by and through the county executive after approval by the legislature. Any such […]
3962 – Bonds, Notes or Other Obligations of the Authority.
§ 3962. Bonds, notes or other obligations of the authority. 1. The authority shall have the power and is hereby authorized from time to time to issue bonds, notes or other obligations in such principal amounts as it may determine to be necessary pursuant to section thirty-nine hundred sixty-one of this title to pay any […]
3963 – Remedies of Bondholders.
§ 3963. Remedies of bondholders. Subject to any resolution or resolutions adopted pursuant to paragraph (f) of subdivision six of section thirty-nine hundred sixty-two of this title: 1. In the event that the authority shall default in the payment of principal of or interest on any issue of bonds, notes or other obligations after the […]
3964 – Intercept of County Tax Revenues and State Aid Revenues.
§ 3964. Intercept of county tax revenues and state aid revenues. 1. Commencing on the effective date of this title, and until December thirty-first, two thousand thirty-nine, the state comptroller shall pay county tax revenues at least monthly to the authority in accordance with section twelve hundred sixty-one of the tax law. During such period, […]
3965 – Resources of the Authority.
§ 3965. Resources of the authority. 1. Subject to the provisions of this title, the directors of the authority shall receive, accept, invest, administer, expend and disburse for its corporate purposes all moneys of the authority from whatever source derived including (a) revenues and (b) proceeds of bonds, notes or other obligations. 2. Subject to […]
3966 – Agreement With the State.
§ 3966. Agreement with the state. 1. The state does hereby pledge to and agree with the holders of any issue of bonds, notes or other obligations issued by the authority pursuant to this title and secured by such a pledge that the state will not limit, alter or impair the rights hereby vested in […]
3954 – General Powers of the Authority.
§ 3954. General powers of the authority. Except as otherwise limited by this title, the authority shall have the following powers in addition to those specially conferred elsewhere in this title, subject only to agreements with bondholders: 1. to sue and be sued; 2. to have a seal and alter the same at pleasure; 3. […]
3955 – Assistance to the Authority; Employees of the Authority.
§ 3955. Assistance to the authority; employees of the authority. 1. With the consent of any public corporation, the authority may use agents, employees and facilities thereof, paying to such public corporation its agreed proportion of the compensation or costs. 2. Officers and employees of state or county agencies may be transferred to the authority […]
3956 – County Fiscal Year Two Thousand Five Budget Modification and Four-Year Financial Plan.
§ 3956. County fiscal year two thousand five budget modification and four-year financial plan. 1. Not later than October first, two thousand five, the county executive, upon approval by the legislature, shall submit to the authority a budget modification and financial plan consistent with the financial plan requirements contained in section thirty-eight hundred fifty-seven of […]