1950 – Short Title.

§ 1950. Short title. This title may be cited as the “Troy Industrial Development Authority Act.”

1951 – Definitions.

§ 1951. Definitions. As used or referred to in this title, unless a different meaning clearly appears from the context: 1. The term “authority” shall mean the Troy Industrial Development Authority, the corporation created by section nineteen hundred fifty-two of this title; 2. The term “board” shall mean the members of the authority; 3. The […]

1952 – Troy Industrial Development Authority.

§ 1952. Troy industrial development authority. A board to be known as the “Troy industrial development authority” is hereby created. Such board shall be a body corporate and politic, constituting a public benefit corporation and its existence shall commence upon the appointment of the members as herein provided. Its members shall consist of a chair […]

1952-A – Video Recordings of Open Meetings and Public Hearings.

§ 1952-a. Video recordings of open meetings and public hearings. The authority shall, to the extent practicable, stream all open meetings and public hearings on its website in real-time. The authority shall post video recordings of all open meetings and public hearings on its website within five business days of the meeting or hearing and […]

1953 – Purpose and Powers of the Authority.

§ 1953. Purpose and powers of the authority. The purposes of the authority shall be to promote, develop, encourage and assist in the acquiring, constructing, reconstructing, improving, maintaining, equipping and furnishing industrial, manufacturing, warehouse, commercial and research facilities including industrial pollution control facilities, transportation facilities including but not limited to those relating to water, highway, […]

1953-A – Additional Prerequisites to the Provision of Financial Assistance.

§ 1953-a. Additional prerequisites to the provision of financial assistance. Prior to providing any financial assistance of more than one hundred thousand dollars to any project, the authority must comply with the following prerequisites: 1. The authority must adopt a resolution describing the project and the financial assistance that the authority is contemplating with respect […]

1954 – Civil Service Status of Officers and Employees.

§ 1954. Civil service status of officers and employees. Officers and employees of any board, commission or department of the city may be transferred to the authority in accordance with the provisions of the civil service law and shall be eligible for such transfer and appointment without examination to offices and positions under the authority. […]

1954-A – Conflicts of Interest.

§ 1954-a. Conflicts of interest. All members, officers and employees of the authority shall be subject to the provisions of article eighteen of the general municipal law.

1955 – Conveyance of Property by the City to the Authority and Conveyance and Leasing of Said Property by the Authority.

§ 1955. Conveyance of property by the city to the authority and conveyance and leasing of said property by the authority. 1. The city may, by duly adopted resolution of the city council or by instruments authorized by such resolution, convey, with or without consideration, to the authority real and personal property owned by the […]

1955-A – Compensation Procurement and Investment.

§ 1955-a. Compensation procurement and investment. 1. The compensation of an officer or full-time employee of the authority (but not including part-time employees or consultants, including accountants, attorneys and bond counsel to the authority) shall not be contingent on the granting of financial assistance by the authority. 2. The provisions of section one hundred four-b […]

1956 – Construction and Purchase Contracts.

§ 1956. Construction and purchase contracts. The provisions of law relating to the requirement of public bidding with respect to the construction of public facilities or projects shall not be applicable to the acquisition, construction, reconstruction, improvement, maintenance, equipping and furnishing of projects authorized by this title.

1957 – Moneys of the Authority.

§ 1957. Moneys of the authority. All moneys of the authority, from whatever source derived, shall be paid to the authority’s appointed chief financial officer of the city as agent of the authority, who shall not commingle such moneys with any other moneys. Such moneys shall be deposited in a separate bank account or accounts. […]

1958 – Bonds of the Authority.

§ 1958. Bonds of the authority. 1. The authority shall have the 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 without limitation as to amount. The authority shall have power from time to […]

1959 – Notes of the Authority.

§ 1959. Notes of the authority. The authority shall have power from time to time to issue its negotiable notes in conformity with applicable provisions of the uniform commercial code and from time to time issue renewal notes (herein referred to as notes) maturing not later than five years from their respective original dates in […]

1960 – Agreements of the City and State.

§ 1960. Agreements of the city and state. The city is authorized to, and the state does hereby, pledge to and agree with the holders of the bonds that neither the city nor the state, respectively, will limit or alter the rights, hereby vested in the authority to acquire, construct, reconstruct, improve, maintain, equip and […]

1961 – State and City Not Liable on Bonds.

§ 1961. State and city not liable on bonds. The bonds and other obligations of the authority shall not be a debt of the state or of 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 the authority.

1962 – Bonds Legal Investments for Public Officers.

§ 1962. Bonds legal investments for public officers. The bonds or notes 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 and other persons carrying on an insurance business, all banks, bankers, trust companies, savings banks and savings associations, […]

1963 – Tax Exemptions.

§ 1963. Tax exemptions. 1. It is hereby determined 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 city and its environs, and is a public purpose, and the authority shall be regarded as performing a governmental function […]

1963-A – Uniform Tax Exemption Policy.

§ 1963-a. Uniform tax exemption policy. 1. The authority shall establish a uniform tax exemption policy, with input from affected local taxing jurisdictions, which shall be applicable to provisions of financial assistance pursuant to section nineteen hundred fifty-three-a of this title and shall provide guidelines for the claiming of real property, mortgage recording, and sales […]

1963-B – Special Provisions Applicable to State Sales and Compensating Use Taxes and Cerain Types of Facilities.

§ 1963-b. Special provisions applicable to state sales and compensating use taxes and certain types of facilities. The provisions of section eight hundred seventy-five of the general municipal law shall apply to the provisions of this title and to the authority created by this title with the same force and effect as if the provisions […]