2490-A – Short Title.

§ 2490-a. Short title. This title may be cited as the “Saratoga Springs city center authority”.

2490-B – Definitions.

§ 2490-b. 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 corporation created by section twenty-four hundred ninety-c of this title; 2. The term “city” shall mean the city of Saratoga Springs, Saratoga county, New York; 3. The term […]

2490-C – Saratoga Springs City Center Authority.

§ 2490-c. Saratoga Springs city center authority. A board to be known as the Saratoga Springs city center authority is hereby created. The 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. It shall consist of a […]

2490-D – Purposes and Powers of the Authority.

§ 2490-d. Purposes and powers of the authority. The purposes of the authority shall be to construct, operate and maintain the project consisting of the Saratoga Springs city center authority and facilities in connection therewith. To carry out the purposes the authority shall have power: 1. To sue and be sued; 2. To acquire, hold […]

2490-E – Acquisition of Land for the Project.

§ 2490-e. Acquisition of land for the project. 1. The authority may acquire lands by purchase or condemnation for the project. It shall have the power to sell, lease or otherwise dispose of said real property and shall retain and have the power to use the proceeds of sale, rental or other moneys derived from […]

2490-F – Civil Service Status of Employees.

§ 2490-f. Civil service status of employees. The appointment and promotion of all employees of the authority shall be made in accordance with the provisions of the civil service law and the rules of the city of Saratoga Springs civil service commission, and such employees shall be entitled to membership in the city pension and […]

2490-G – Contracts.

§ 2490-g. Contracts. The authority shall let contracts for construction and materials in the manner provided by law for contracts of the city.

2490-H – Moneys of the Authority.

§ 2490-h. Moneys of the authority. 1. All moneys of the authority shall be paid to the commissioner of finance of the city of Saratoga Springs as agent for the authority, who shall designate depositories and who shall not commingle such moneys with any other moneys. The moneys in such accounts shall be paid out […]

2490-I – Bonds of the Authority.

§ 2490-i. 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 its corporate purposes in the aggregate principal amount of not exceeding fifteen million dollars. The authority shall have […]

2490-J – Remedies of Bondholders.

§ 2490-j. Remedies of bondholders. Subject to any resolution or resolutions adopted pursuant to paragraph (j) of subdivision three of section twenty-four hundred ninety-i 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, […]

2490-K – State, City and Municipalities Not Liable on Authority Bonds.

§ 2490-k. State, city and municipalities not liable on authority bonds. Neither the state, the city nor any other municipality or public corporation shall be liable on the bonds of the authority and such bonds shall not be a debt of the state, the city or any other municipality or public corporation, and such bonds […]

2490-L – Bonds Legal Investment for Fiduciaries.

§ 2490-l. Bonds legal investment for fiduciaries. The bonds of the authority are hereby made securities in which all public officials and bodies of the state and all municipalities, all insurance companies and associations and other persons carrying on an insurance business, all banks, bankers, trust companies, savings banks and savings associations, including savings and […]

2490-M – Agreement With the State.

§ 2490-m. Agreement with the state. The state hereby pledges to and agrees with the holders of any bonds issued by the authority pursuant to this title, that the state will not alter or limit the rights hereby vested in the authority to purchase, construct, maintain, operate, repair, improve, increase, enlarge, extend, reconstruct, renovate, rehabilitate […]

2490-N – Exemption From Taxes, Assessments and Certain Fees.

§ 2490-n. Exemption from taxes, assessments and certain fees. 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 state and is a public purpose and the authority shall be regarded as performing a […]

2490-O – Actions Against Authority.

§ 2490-o. Actions against authority. 1. Except in an action for wrongful death, no action or special 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 […]

2490-P – Title Not Affected if in Part Unconstitutional or Ineffective.

§ 2490-p. Title not affected if in part unconstitutional or ineffective. If any section, clause or provision of this title shall be unconstitutional or be ineffective in whole or in part, to the extent that it is not unconstitutional or ineffective, it shall be valid and effective and no other section, clause or provision shall […]

2490-Q – Inconsistent Provisions in Other Acts Superseded.

§ 2490-q. 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 of any local law of the city, the provisions of this title shall be controlling.