Bill Text: NY A09966 | 2021-2022 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relates to the Syracuse regional airport authority; requires the authority to only give notice to the city of Syracuse before beginning certain projects exceeding ten million dollars.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-06-01 - substituted by s8956c [A09966 Detail]

Download: New_York-2021-A09966-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          9966

                   IN ASSEMBLY

                                     April 26, 2022
                                       ___________

        Introduced  by  M.  of  A.  MAGNARELLI  -- read once and referred to the
          Committee on Corporations, Authorities and Commissions

        AN ACT to amend the public authorities law, in relation to the  Syracuse
          regional airport

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Subdivisions 1, 2 and 6 of section 2799-ddd of  the  public
     2  authorities  law,  as  added  by  chapter  463  of the laws of 2011, are
     3  amended to read as follows:
     4    1. There is hereby created the Syracuse  regional  airport  authority.
     5  The  authority  shall  be  a  body  corporate and politic constituting a
     6  public benefit corporation.   The  authority  shall  consist  of  eleven
     7  members  who  shall be appointed as follows: seven shall be appointed by
     8  the mayor of the city of Syracuse, one shall be appointed by the  county
     9  executive  of  Onondaga county, one shall be appointed by the town board
    10  of the town of Dewitt, one shall be appointed by the board of  education
    11  of  the  East  Syracuse  Minoa Central School District, and one shall be
    12  appointed for a period of one year, alternately, by the board of  educa-
    13  tion of the North Syracuse Central School District and the town board of
    14  the  town  of  Salina, Cicero or Clay. The member initially appointed by
    15  the county executive and two of the members initially appointed  by  the
    16  mayor  shall serve for a term ending December thirty-first, two thousand
    17  fourteen. Two of the members initially  appointed  by  the  mayor  shall
    18  serve  for  a  term  ending December thirty-first, two thousand fifteen.
    19  Three members initially appointed by the mayor, the member appointed  by
    20  the  town  board  of the town of Dewitt, and the member appointed by the
    21  board of education of the East Syracuse Minoa Central  School  District,
    22  shall  serve  for  a  term  ending  December  thirty-first, two thousand
    23  sixteen. The first member appointed by the town board  of  the  town  of
    24  Salina,  Cicero or Clay, or by the board of education of the North Syra-
    25  cuse Central School District, shall be appointed by the  town  board  of
    26  the  town  of  Cicero and shall serve for a term ending December thirty-
    27  first, two thousand thirteen. Following the expiration of such  member's
    28  [one]  two  year  term,  the  subsequently  appointed  member  shall  be

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13333-05-2
        A. 9966                             2

     1  appointed by the town board of the town of Salina.  Following the  expi-
     2  ration  of such member's [one] two year term, the subsequently appointed
     3  member shall be appointed by the town board of the town of Clay. Follow-
     4  ing the expiration of such member's [one] two year term, the subsequent-
     5  ly  appointed member shall be appointed by the board of education of the
     6  North Syracuse Central  School  District.  Thereafter,  each  subsequent
     7  member  shall  be  appointed  alternately  by  each town or the board of
     8  education in the same order as the  initial  appointments.    The  mayor
     9  shall designate one of the eleven members to serve as chairperson of the
    10  authority.  With  the  exception of the member appointed by the board of
    11  education of the North Syracuse Central School District or by  the  town
    12  board of the town of Salina, Cicero or Clay, who shall serve a [one] two
    13  year  term,  and those initial appointees whose terms are three years or
    14  less, each member shall serve a term of four years.
    15    2. All members shall continue to hold office  until  their  successors
    16  are  appointed  and qualify.  Provided that upon a new mayor of the city
    17  taking office, the incoming mayor may replace the  city  appointee  with
    18  the  shortest  remaining  term  with a new appointee. Vacancies shall be
    19  filled in the  manner  provided  for  original  appointment.  Vacancies,
    20  occurring  otherwise  than  by  expiration  of  term of office, shall be
    21  filled for the unexpired terms.  Members may be removed from office  for
    22  the  same  reasons and in the same manner as may be provided by [law for
    23  the removal of officers of the city] section twenty-eight hundred  twen-
    24  ty-seven  of this chapter. The members of the authority shall receive no
    25  compensation for their services but shall be reimbursed  for  all  their
    26  actual  and  necessary expenses incurred in connection with the carrying
    27  out of the purposes of this title. The powers of the authority shall  be
    28  vested  in and be exercised by the members of the authority at a meeting
    29  duly called and held and a majority  of  directors  shall  constitute  a
    30  quorum.   No action shall be taken except pursuant to the favorable vote
    31  of at least a majority of members. The  members  of  the  authority  may
    32  delegate  to  one  or more of its members, officers, agents or employees
    33  such powers and duties as it may deem proper.
    34    6. All members of the authority will be required to  comply  with  the
    35  [city  of  Syracuse  code  of  ethics] provisions of this chapter and to
    36  complete all disclosure forms required by [said  code  of  ethics]  this
    37  chapter.
    38    §  2.  Section  2799-hhh  of  the public authorities law is amended by
    39  adding a new subdivision 8 to read as follows:
    40    8. The authority may acquire, hold, own, lease, establish,  construct,
    41  effectuate,  operate,  maintain, renovate, improve, extend or repair any
    42  of its facilities through, and cause any one  or  more  of  its  powers,
    43  duties,  functions or activities to be exercised or performed by, one or
    44  more wholly owned subsidiary  corporations  of  the  authority  and  may
    45  transfer  to or from any such corporation, or between such corporations,
    46  any moneys, real property or other  property  or  the  services  of  any
    47  officers,  employees  or  consultants  for  any  of the purposes of this
    48  title. The directors or members  of  each  such  subsidiary  corporation
    49  shall be the same persons holding the offices of members of the authori-
    50  ty.  Each such subsidiary corporation and any of its property, functions
    51  and activities  shall  have  all  of  the  privileges,  immunities,  tax
    52  exemptions  and other exemptions of the authority and of the authority's
    53  property, functions and activities.  Each  such  subsidiary  corporation
    54  shall  be  subject  to  the  restrictions  and  limitations to which the
    55  authority may be subject. Each  such  subsidiary  corporation  shall  be
    56  subject  to suit in accordance with section twenty-seven hundred ninety-
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     1  nine-www of this title.   The employees of any  such  subsidiary  corpo-
     2  ration,  except those who are also employees of the authority, shall not
     3  be deemed employees of the authority.
     4    § 3. Section 2799-iii of the public authorities law, as added by chap-
     5  ter 463 of the laws of 2011, is amended to read as follows:
     6    §  2799-iii.  City  [approval]  notice  required.  Notwithstanding any
     7  inconsistent provision of this title, no  project  having  an  aggregate
     8  cost  exceeding  ten  million  dollars, including but not limited to the
     9  acquisition of real property by the authority or the  expansion  of  the
    10  authority's  aviation  facilities,  may  be  undertaken by the authority
    11  unless the authority has provided notice of such project [is approved by
    12  ordinance of] to the Syracuse common council [adopted by a majority vote
    13  and approved by] and the mayor.
    14    § 4. Subdivision 1 of section 2799-jjj of the public authorities  law,
    15  as  added  by  chapter  463  of  the laws of 2011, is amended to read as
    16  follows:
    17    1. The authority shall have the power and is  hereby  authorized  from
    18  time  to time to issue bonds, notes or other obligations to pay the cost
    19  of any project or for any other corporate purpose, including the  estab-
    20  lishment  of  reserves to secure the bonds, the payment of principal of,
    21  premium, if any, and interest on the bonds and the payment of incidental
    22  expenses in connection therewith.   The aggregate  principal  amount  of
    23  such  bonds,  notes  or  other  obligations shall not exceed [two] three
    24  hundred  million  dollars  [($200,000,000)]  ($300,000,000),   excluding
    25  bonds,  notes  or  other obligations issued to refund or otherwise repay
    26  bonds, notes or other obligations theretofore issued for such  purposes;
    27  provided,  however,  that upon any such refunding or repayment the total
    28  aggregate principal amount of outstanding bonds, notes  or  other  obli-
    29  gations  may  be  greater  than  [two]  three  hundred  million  dollars
    30  [($200,000,000)] ($300,000,000) only if the present value of the  aggre-
    31  gate  debt  service  of their funding or repayment bonds, notes or other
    32  obligations to be issued shall not  exceed  the  present  value  of  the
    33  aggregate debt service of the bonds, notes or other obligations so to be
    34  refunded or repaid.  For purposes of this section, the present values of
    35  the aggregate debt service of the refunding or repayment bonds, notes or
    36  other  obligations and of the aggregate debt service of the bonds, notes
    37  or other obligations so refunded  or  repaid,  shall  be  calculated  by
    38  utilizing  the  effective  interest  rate  of the refunding or repayment
    39  bonds, notes or other obligations, which shall be that rate  arrived  at
    40  by  doubling  the  semi-annual  interest rate (compounded semi-annually)
    41  necessary to discount the debt service  payments  on  the  refunding  or
    42  repayment bonds, notes or other obligations from the payment dates ther-
    43  eof  to  the date of issue of the refunding or repayment bonds, notes or
    44  other obligations and to  the  price  bid  including  estimated  accrued
    45  interest  or  proceeds  received  by  the  authority including estimated
    46  accrued interest from the sale thereof. The authority shall  have  power
    47  and  is hereby authorized to enter into such agreements and perform such
    48  acts as may be required under  any  applicable  federal  legislation  to
    49  secure a federal guarantee of any bonds.
    50    §  5.  This  act shall take effect on the ninetieth day after it shall
    51  have become a law.