1195 – Inconsistent Provisions in Other Acts Superseded.
§ 1195. Inconsistent provisions in other acts superseded. Insofar as the provisions of this title are inconsistent with the provisions of any other act, general or special, or any local law, the provisions of this title shall be controlling.
1194 – Title Not Affected if in Part Unconstitutional.
§ 1194. Title not affected if in part unconstitutional. If any clause, sentence, paragraph, or part of this title shall for any reason be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder of this title, but shall be confined in its operation to […]
1185 – Fiscal Year.
§ 1185. Fiscal year. The fiscal year of the authority shall begin on the first day of July.
1186 – Moneys of the Authority.
§ 1186. Moneys of the authority. All moneys of the authority, from whatever source derived, shall be paid to the treasurer as agent of the authority, who shall not commingle such moneys with any other moneys. Such moneys shall be deposited by the treasurer in one or more banks or trust companies in a special […]
1187 – Bonds of the Authority.
§ 1187. Bonds of the authority. 1. The authority shall have power and is hereby authorized from time to time to issue its negotiable bonds in conformity with applicable provisions of the uniform commercial code for any of its corporate purposes. The total amount of bonds issued and outstanding at any one time shall not […]
1188 – Agreement of the State.
§ 1188. Agreement of the state. The state of New York does pledge to and agree with the holders of the bonds that the state will not limit or alter the rights hereby vested in the authority to establish and collect such rates, rentals and other charges as may be convenient or necessary to produce […]
1189 – State and City Not Liable on Bonds.
§ 1189. State and city not liable on bonds. The bonds and other obligations of the authority shall not be a debt of the state of New York or the city, and neither the state nor the city shall be liable thereon, nor shall they be payable out of any funds other than those of […]
1190 – Bonds Legal Investments for Fiduciaries.
§ 1190. Bonds legal investments for fiduciaries. The bonds are hereby made securities in which all public officers and bodies of this state and all municipalities and municipal subdivisions, all insurance companies and associations, all savings banks and savings institutions, including savings and loan associations, administrators, guardians, executors, trustees and other fiduciaries in the state […]
1191 – Exemptions From Taxation.
§ 1191. Exemptions from taxation. 1. It is hereby found and declared that the creation of the authority and the carrying out of its corporate purposes is in all respects for the benefit of the people of the state of New York, for the improvement of their health and welfare, and is a public purpose, […]
1192 – Remedies of Bondholders.
§ 1192. Remedies of bondholders. 1. In the event that the authority shall default in the payment of principal of, or interest on, any of the bonds after the said principal or interest shall become due, whether at maturity or upon call for redemption, and such default shall continue for a period of thirty days, […]