3650 – Short Title.

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

3659 – Agreement With the County.

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

3660 – Bonds Legal for Investment and Deposit.

§ 3660. Bonds legal for investment and deposit. The bonds 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 business, all banks, bankers, trust companies, savings banks […]

3661 – Tax Exemption and Tax Contract by the State.

§ 3661. Tax exemption and tax contract by the state. 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 […]

3662 – Actions Against the Authority.

§ 3662. 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 […]

3663 – Audits.

§ 3663. Audits. 1. The accounts of the authority shall be subject to the audit of the comptroller and the state comptroller. In addition, the authority shall be subject to an annual financial audit performed by an independent certified accountant selected by the authority. Such audit report shall be submitted to the county executive, the […]

3664 – Remedies of Bondholders.

§ 3664. Remedies of bondholders. Subject to any resolution or resolutions adopted pursuant to paragraph (f) of subdivision seven of section thirty-six hundred fifty-six 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 after the same shall become due, […]

3665 – Assistance to the Authority; Employees of the Authority.

§ 3665. 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 […]

3666 – 2000 Fiscal Year Budget Modification.

§ 3666. 2000 fiscal year budget modification. 1. The control period as set forth in section thirty-six hundred sixty-nine of this title shall be instituted on June thirtieth, two thousand, unless prior to such date (a) the county executive, after approval by the legislature, shall have submitted to the authority a modification to the county’s […]

3667 – County Financial Plans.

§ 3667. County financial plans. 1. The county executive shall prepare and submit to the authority a four-year financial plan, initially for the fiscal years ending December thirty-first, two thousand one through two thousand four, together with the proposed budget for the fiscal year ending on December thirty-first, two thousand one, not later than the […]

3668 – Monitoring and Review.

§ 3668. Monitoring and review. Except as otherwise provided in section thirty-six hundred sixty-nine of this title, the authority shall: 1. conduct meetings at least annually; 2. conduct audits of the Nassau county industrial development agency established pursuant to section nine hundred twenty-two of the general municipal law, the Nassau county off-track betting corporation established […]

3669 – Control Period.

§ 3669. Control period. 1. The authority shall impose a control period upon its determination at any time that any of the following events has occurred or that there is a substantial likelihood and imminence of such occurrence: (a) the county shall have failed to pay the principal of or interest on any of its […]

3670 – Miscellaneous Provisions.

§ 3670. Miscellaneous provisions. 1. Notwithstanding anything 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 long […]

3671 – Effect of Inconsistent Provisions.

§ 3671. Effect of inconsistent provisions. Insofar as the provisions of this title are inconsistent with the provisions of any other act, general or special, or of any charter, local law, ordinance or resolution of any municipality, the provisions of this title shall be controlling. Nothing contained in this section shall be held to supplement […]

3672 – Separability; Construction.

§ 3672. Separability; construction. If any clause, sentence, paragraph, section, or part of this title shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in its operation to the clause, sentence, paragraph, section, or part thereof involved […]