3951 – Definitions.
§ 3951. Definitions. For the purposes of this title, unless the context otherwise requires: 1. “Advisory period” means a period of time from the effective date of this title until the date when (a) the authority shall determine that for each fiscal year, through and including fiscal year two thousand twelve, that the county has […]
3952 – Erie County Fiscal Stability Authority.
§ 3952. Erie county fiscal stability authority. 1. There is hereby created the Erie county fiscal stability authority. The authority shall be a corporate governmental agency and instrumentality of the state constituting a public benefit corporation. 2. The authority shall conduct meetings as often as deemed necessary to accomplish its purposes, but not less than […]
3953 – Administration of the Authority.
§ 3953. Administration of the authority. 1. The authority shall be administered by seven directors appointed by the governor. Of the seven directors, one each shall be appointed on the written recommendation of the temporary president of the state senate, the speaker of the state assembly and the state comptroller, respectively. One member appointed directly […]
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 […]
3957 – County Financial Plans.
§ 3957. County financial plans. 1. Commencing with the county’s two thousand six fiscal year, the county executive shall prepare and submit to the authority a four-year financial plan, and the county executive’s proposed county budget, not later than the date required for submission of such budget to the legislature pursuant to the county charter. […]
3868 – Bonds, Notes or Other Obligations Legal for Investment and Deposit.
§ 3868. Bonds, notes or other obligations legal for investment and deposit. The bonds, notes or other obligations of the authority are hereby made securities in which all public officers and bodies of the state and all public corporations, municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying on an insurance […]
3869 – Tax Exemption.
§ 3869. Tax exemption. 1. It is hereby determined that the creation of the authority and the carrying out of its corporate purposes are in all respects for the benefit of the people of the state of New York and are public purposes. Accordingly, the authority shall be regarded as performing an essential governmental function […]
3870 – Actions Against the Authority.
§ 3870. Actions against the authority. 1. Except in an action for wrongful death, no action or proceeding shall be prosecuted or maintained against the authority for personal injury or damage to real or personal property alleged to have been sustained by reason of the negligence or wrongful act of the authority or of any […]