1225-A – Short Title.

§ 1225-a. Short title. This title may be cited as the transit construction fund act.

1225-B – Definitions.

§ 1225-b. Definitions. For the purposes of this title: 1. “City” means the city of New York. 2. “Director of management and budget” means the director of management and budget of the city of New York. 3. “Fund” means the transit construction fund as established by this title. 4. “Mayor” means the mayor of the […]

1225-C – Transit Construction Fund.

§ 1225-c. Transit construction fund. (a) There is hereby created the transit construction fund. The fund is a corporate governmental agency constituting a public benefit corporation. It has the powers and privileges of a corporation and all of its business shall be transacted, all funds invested, all warrants for money drawn and payments made, and […]

1225-D – Purpose of the Fund.

§ 1225-d. Purpose of the fund. The purpose of the fund shall be to provide through agreements with the transportation authority transit facilities, to be used by the transit authority or any subsidiary, including the planning, design, construction, acquisition, extension, reconstruction, rehabilitation, modernization, and other improvement of such facilities. Such purpose shall be in all […]

1225-E – Administration of the Fund.

§ 1225-e. Administration of the fund. (1) The fund shall be administered by three trustees, one of whom shall be the director of the budget. The remaining two trustees shall be appointed by the mayor, no more than one of whom may be a city official. All city officials shall serve ex-officio. Trustees, except ex-officio […]

1225-F – General Powers of the Fund.

§ 1225-f. General powers of the fund. The fund shall have the following powers in addition to those specially conferred elsewhere in this title: (1) to sue and be sued; (2) to have a seal and alter the same at its pleasure; (3) to make and alter by-laws for its organization and internal management; (4) […]

1225-G – Agreement With the Transportation Authority.

§ 1225-g. Agreement with the transportation authority. (a) To enable the fund to realize its public and governmental purpose, the fund may enter into agreements with the transportation authority, to which the transit authority may be a party, pursuant to which the transportation authority may plan, design, construct, acquire, extend, reconstruct, rehabilitate, modernize, or otherwise […]

1225-H – Resources of the Fund.

§ 1225-h. Resources of the fund. (a) Subject to the provisions of this title the trustees of the fund shall receive, accept, invest, administer, expend and disburse for its corporate purposes all monies for the transit construction fund from whatever sources derived. (b) The monies of the fund shall be paid to the comptroller of […]

1225-I – Payments to the Fund.

§ 1225-i. Payments to the fund. (a) To further enable the fund to realize its public and governmental purpose the city shall, in addition to any other financial assistance, annually pay to the fund in respect to each city fiscal year an amount equal to the aggregate of all rentals and other payments due and […]

1225-J – Federal, State and Other Aid.

§ 1225-j. Federal, state and other aid. Subject to the provisions of chapter ten hundred seventy-three of the laws of nineteen hundred sixty-nine as amended by a chapter of the laws of nineteen hundred seventy-two, in the event that the transportation authority receives state or federal or other aid for a transit facility which defrays […]

1225-K – Title to Property.

§ 1225-k. Title to property. Title to any transit facility leased to the fund by the transportation authority pursuant to this title shall, on the expiration or termination of such lease, vest in the city.

1225-L – Employees of the Fund.

§ 1225-l. Employees of the fund. 1. Notwithstanding any inconsistent provisions of this title, the appointment and promotion of all employees of and for the fund shall be made in accordance with the provisions of the civil service law under the jurisdiction of the city civil service commission and the compensation for such employees shall […]

1225-M – Actions Against Fund.

§ 1225-m. Actions against fund. (a) An action against the fund for personal injury or property damage or founded on tort, except an action for wrongful death, shall not be commenced more than one year and ninety days after the cause of action thereof shall have accrued nor unless a notice of claim shall have […]

1225-N – Assistance to the Fund.

§ 1225-n. Assistance to the fund. The city may make grants of money or property to the fund for the purpose of enabling it to carry out its public purposes and for the exercise of its powers. This section shall not be construed to limit any other power the city may have to make such […]

1225-O – Corporation Counsel to Be Attorney.

§ 1225-o. Corporation counsel to be attorney. The corporation counsel of the city shall be attorney and counsel for the fund.

1225-P – Exemption From Taxation.

§ 1225-p. Exemption from taxation. The monies and property of the fund and its operation shall be exempt from taxation.

1225-Q – Construction.

§ 1225-q. Construction. It is the intent of the Legislature that this title be construed liberally so as to effectuate the public and governmental purpose thereof.