875 – Short Title.

§ 875. Short title. This title may be cited as the “Genesee Valley Regional Market Authority Act”.

876 – Definitions.

§ 876. Definitions. As used in this title, unless a different meaning clearly appears from the context: 1. The term “district” shall mean the Genesee Valley Regional Market District created by section eight hundred seventy-seven of this title. 2. The term “authority” shall mean the corporation created by section eight hundred seventy-eight of this title. […]

877 – Genesee Valley Regional Market District.

§ 877. Genesee Valley Regional Market District. There is hereby created and established a district to be known as the “Genesee Valley Regional Market District”, which shall embrace the area and territory bounded and described as follows: All the territory included within the following-named counties: Monroe, Ontario, Livingston, Orleans, Genesee, Wyoming, Steuben, Yates, and all […]

878 – Genesee Valley Regional Market Authority.

§ 878. Genesee Valley Regional Market Authority. 1. A board to be known as the “Genesee Valley Regional Market Authority” is hereby created. Such board shall be a body corporate and politic, constituting a public benefit corporation. 2. The board shall consist of fifteen members, as follows: (a) The commissioner of agriculture and markets, or […]

879 – Purposes and Powers of the Authority.

§ 879. Purposes and powers of the authority. The purposes of the authority shall be to assist in the establishment and development of agriculture and agriculturally related businesses in the district, and to acquire, construct, reconstruct, improve, equip, operate and maintain adequate regional market facilities within the district for the buying and selling of agricultural […]

880 – Moneys of the Authority.

§ 880. Moneys of the authority. 1. The treasurer of the authority shall demand, collect, receive and have the care and custody of moneys belonging to or due the authority from every source. Not later than the business day next following the day of their receipt the treasurer shall deposit in his name, as treasurer […]

881 – Bonds of the Authority.

§ 881. Bonds of the authority. 1. The authority shall have power and is hereby authorized from time to time to issue negotiable bonds in conformity with applicable provisions of the uniform commercial code, for any corporate purpose of the authority. The authority shall have power from time to time to refund any bonds by […]

882 – Notes of the Authority.

§ 882. 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 whenever the board shall determine that payment thereof can be made in full from any moneys or revenues which the authority expects to receive from […]

883 – Agreement of the State.

§ 883. Agreement of the state. The state of New York does hereby pledge to and agree with the holders of the bonds that the state will not authorize the construction or operation of any market facilities within the district by any public agency or public corporation, nor will it limit or alter the rights […]

884 – State and Counties Not Liable on Bonds.

§ 884. State and counties not liable on bonds. The bonds and other obligations of the authority shall not be a debt of the state or of any county or counties, and the board shall have no power to make them payable out of any moneys except those of the authority.

885 – Bonds Legal Investments for Public Officers and Fiduciaries.

§ 885. Bonds legal investments for public officers and fiduciaries. The bonds are hereby made securities in which all public officers and bodies of this 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 […]

886 – Exemptions From Taxation.

§ 886. Exemptions from taxation. 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 of New York and it is a public purpose and the authority shall be regarded as performing a […]

887 – Remedies of Bondholders.

§ 887. Remedies of bondholders. 1. In the event that the authority shall default in the payment of the principal of or interest on any of the bonds after the same shall become due, whether at maturity or upon call for redemption, and such default shall continue for a period of thirty days, or in […]

888 – Interest in Claims and Contracts Prohibited.

§ 888. Interest in claims and contracts prohibited. No member, officer, agent or employee of the authority shall be interested, directly or indirectly, in any claim against or contract with the authority except for lawful compensation and reimbursement for actual and necessary expenses incurred in the performance of official duties; provided that any such member, […]

889 – Actions Against Authority.

§ 889. Actions against authority. 1. In any case founded upon a tort a notice of claim shall be required as a condition precedent to the commencement of an action or special proceeding against the authority and the provisions of section fifty-e of the general municipal law shall apply. Except in an action for wrongful […]

890 – Contracts.

§ 890. Contracts. All contracts of the authority for the purchase of supplies, materials or equipment or for public work, which involve an expenditure of more than twenty-five hundred dollars, shall be let upon sealed bids, after public advertisement, to the lowest responsible bidder furnishing the security as required by the board.

891 – State’s Right to Require Redemption of Bonds.

§ 891. State’s right to require redemption of bonds. Notwithstanding and in addition to any provisions for the redemption of bonds which may be contained in any contract with the holders of the bonds, the state may, upon furnishing sufficient funds therefor, require the authority to redeem, prior to maturity, as a whole, any issue […]

892 – Title Not Affected if in Part Unconstitutional or Ineffective.

§ 892. 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 […]

893 – Inconsistent Provisions in Other Laws Superseded.

§ 893. Inconsistent provisions in other laws superseded. In so far as the provisions of this title are inconsistent with the provisions of any other law, general, special or local, the provisions of this title shall be controlling.