Bill Text: NY S02813 | 2009-2010 | General Assembly | Amended


Bill Title: Establishes the North Country power authority and provides for its powers and duties.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2010-10-01 - SIGNED CHAP.533 [S02813 Detail]

Download: New_York-2009-S02813-Amended.html
                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        2813--C
           Cal. No. 197
                              2009-2010 Regular Sessions
                                   I N  S E N A T E
                                     March 3, 2009
                                      ___________
       Introduced  by Sens. AUBERTINE, GRIFFO, LITTLE -- read twice and ordered
         printed, and when printed to be committed to the Committee  on  Energy
         and  Telecommunications  -- reported favorably from said committee and
         committed to the Committee on Finance --  committee  discharged,  bill
         amended,  ordered reprinted as amended and recommitted to said commit-
         tee -- recommitted to the Committee on Energy  and  Telecommunications
         in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill
         amended,  ordered reprinted as amended and recommitted to said commit-
         tee -- reported favorably from said committee  and  committed  to  the
         Committee  on  Finance  --  reported  favorably  from  said committee,
         ordered to first and second report, ordered to a third reading, passed
         by Senate and delivered to the Assembly, recalled, vote  reconsidered,
         restored  to  third  reading, amended and ordered reprinted, retaining
         its place in the order of third reading
       AN ACT to amend the public authorities law, in relation to  establishing
         the  North  Country  power authority, and providing for its powers and
         duties
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  Article  5  of  the  public authorities law is amended by
    2  adding a new title 1-B to read as follows:
    3                                  TITLE 1-B
    4                        NORTH COUNTRY POWER AUTHORITY
    5  SECTION 1021.   SHORT TITLE.
    6          1021-A. DEFINITIONS.
    7          1021-B. NORTH COUNTRY POWER AUTHORITY.
    8          1021-C. NORTH COUNTRY POWER AUTHORITY SERVICE AREA; EXTENSION OF
    9                    SERVICE AREA.
   10          1021-D. POWERS AND DUTIES OF THE AUTHORITY.
   11          1021-E. DEPOSIT AND INVESTMENT OF MONEYS OF THE AUTHORITY.
   12          1021-F. CONFLICTS OF INTEREST.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD07083-23-0
       S. 2813--C                          2
    1          1021-G. SALE OF SURPLUS POWER.
    2          1021-H. AUDIT AND ANNUAL REPORTS.
    3          1021-I. BONDS, NOTES AND OTHER OBLIGATIONS OF THE AUTHORITY.
    4          1021-J. STATE AND MUNICIPALITIES NOT LIABLE ON BONDS OR NOTES OR
    5                    OTHER OBLIGATIONS.
    6          1021-K. AGREEMENT OF THE STATE.
    7          1021-L. EXEMPTION OF THE AUTHORITY FROM TAXATION.
    8          1021-M. ACTIONS AGAINST THE AUTHORITY.
    9          1021-N. EQUAL EMPLOYMENT OPPORTUNITY.
   10          1021-O. LIMITATION OF LIABILITY; INDEMNIFICATION.
   11          1021-P. WEBSITE.
   12          1021-Q. PREVAILING WAGE.
   13          1021-R. PERIODIC REVIEW BY LEGISLATURE.
   14          1021-S. SEVERABILITY.
   15    S 1021. SHORT TITLE. THIS TITLE SHALL BE KNOWN AND MAY BE CITED AS THE
   16  "NORTH COUNTRY POWER AUTHORITY ACT".
   17    S  1021-A. DEFINITIONS. AS USED OR REFERRED TO IN THIS TITLE, UNLESS A
   18  DIFFERENT MEANING CLEARLY APPEARS FROM THE CONTEXT:
   19    1. "ACQUIRE" MEANS, WITH RESPECT TO ANY RIGHT, TITLE OR INTEREST IN OR
   20  TO ANY PROPERTY, EITHER THE ACT OF TAKING BY THE EXERCISE OF  THE  POWER
   21  OF EMINENT DOMAIN, OR THE ACQUISITION BY PURCHASE OR OTHERWISE.
   22    2.  "ACT"  MEANS  THE  NORTH  COUNTRY  POWER AUTHORITY ACT, BEING THIS
   23  TITLE.
   24    3. "AUTHORITY" MEANS THE NORTH COUNTRY POWER AUTHORITY ESTABLISHED  BY
   25  SECTION ONE THOUSAND TWENTY-ONE-B OF THIS TITLE.
   26    4. "COMMISSION" MEANS THE PUBLIC SERVICE COMMISSION.
   27    5. "COMPTROLLER" MEANS THE STATE COMPTROLLER.
   28    6. "DIRECTORS" MEANS THE BOARD OF DIRECTORS OF THE AUTHORITY.
   29    7.  "FEDERAL  GOVERNMENT"  MEANS  THE UNITED STATES OF AMERICA AND ANY
   30  AGENCY OR INSTRUMENTALITY, CORPORATE OR OTHERWISE, OF THE UNITED  STATES
   31  OF AMERICA.
   32    8.  "FINAL  DETERMINATION"  OR  "FINALLY  DETERMINED" MEANS A JUDICIAL
   33  DECISION (A) BY THE HIGHEST COURT OF COMPETENT JURISDICTION, OR (B) BY A
   34  COURT OF COMPETENT JURISDICTION FROM WHICH NO APPEAL HAS BEEN TAKEN  AND
   35  THE TIME WITHIN WHICH TO APPEAL HAS EXPIRED.
   36    9.  "NCPA" MEANS THE NORTH COUNTRY POWER AUTHORITY, AND ITS SUCCESSORS
   37  AND ASSIGNS.
   38    10. "MUNICIPALITY" MEANS ANY COUNTY, CITY,  TOWN,  VILLAGE,  MUNICIPAL
   39  CORPORATION,  SCHOOL  DISTRICT  OR  OTHER  POLITICAL  SUBDIVISION OF THE
   40  STATE, INCLUDING ANY AGENCY, AUTHORITY  OR  PUBLIC  CORPORATION  OF  THE
   41  STATE  OR  ANY  OF THE FOREGOING, OR ANY COMBINATION THEREOF, OTHER THAN
   42  THE AUTHORITY.
   43    11. "PROPERTY" MEANS THE POWER DISTRIBUTION SYSTEM OR SYSTEMS  OF  THE
   44  AUTHORITY,  WHETHER  COMPLETED  FACILITIES  OR PROJECTS IN CONSTRUCTION,
   45  WHETHER SITUATED WITHIN OR WITHOUT THE TERRITORIAL LIMITS OF THE SERVICE
   46  AREA, INCLUDING THE PLANTS, WORKS, STRUCTURES, POLES,  LINES,  CONDUITS,
   47  MAINS,  SYSTEMS,  INSTRUMENTALITIES  OR  PARTS THEREOF AND APPURTENANCES
   48  THERETO, LANDS, FRANCHISES AND INTEREST IN LAND, INCLUDING  LANDS  UNDER
   49  WATER AND RIPARIAN RIGHTS, SPACE RIGHTS AND AIR RIGHTS, CONTRACT RIGHTS,
   50  SUBSTATIONS,  AND  DISTRIBUTION  FACILITIES, OR ANY OTHER PROPERTY INCI-
   51  DENTAL TO AND INCLUDED IN SUCH SYSTEM OR PART THEREOF, AND ANY  IMPROVE-
   52  MENTS, EXTENSIONS OR BETTERMENTS. THE TERM "PROPERTY" SHALL ALSO INCLUDE
   53  ANY  AND  ALL  INTERESTS  IN REAL PROPERTY LESS THAN FULL TITLE, SUCH AS
   54  EASEMENTS, RIGHTS OF WAY, USES, LEASES, LICENSES AND ALL OTHER  INCORPO-
   55  REAL HEREDITAMENTS AND EVERY ESTATE, INTEREST OR RIGHT, LEGAL OR EQUITA-
   56  BLE,  INCLUDING  TERMS  FOR YEARS AND LIENS THEREON BY WAY OF JUDGMENTS,
       S. 2813--C                          3
    1  MORTGAGES OR OTHERWISE, AND ALSO ALL CLAIMS FOR DAMAGES RELATED TO  SUCH
    2  REAL ESTATE.
    3    12.  "REVENUES"  MEANS  ALL  RATES, RENTS, FEES, CHARGES, PAYMENTS AND
    4  OTHER INCOME AND RECEIPTS DERIVED BY THE AUTHORITY FROM THE OPERATION OF
    5  THE PROPERTIES OF THE AUTHORITY OTHER THAN THE PROCEEDS OF THE SALES  OF
    6  ITS  SECURITIES,  INCLUDING, BUT NOT LIMITED TO, INVESTMENT PROCEEDS AND
    7  PROCEEDS OF INSURANCE, CONDEMNATION, AND SALES OR OTHER  DISPOSITION  OF
    8  ASSETS, TOGETHER WITH ALL FEDERAL, STATE OR MUNICIPAL AID.
    9    13.  "SECURITY" MEANS ANY BOND, NOTE OR OTHER OBLIGATION ISSUED BY THE
   10  AUTHORITY.
   11    14. "STATE" MEANS THE STATE OF NEW YORK.
   12    15. "STATE AGENCY" MEANS ANY  BOARD,  AUTHORITY,  AGENCY,  DEPARTMENT,
   13  COMMISSION,  PUBLIC  CORPORATION, BODY POLITIC OR INSTRUMENTALITY OF THE
   14  STATE.
   15    S 1021-B. NORTH COUNTRY POWER AUTHORITY. 1. A CORPORATION KNOWN AS THE
   16  NORTH COUNTRY POWER AUTHORITY IS HEREBY ESTABLISHED AND CHARGED WITH THE
   17  DUTIES AND HAVING THE POWERS PROVIDED IN THIS TITLE. THE AUTHORITY SHALL
   18  BE A STATE AUTHORITY, A BODY CORPORATE AND POLITIC CONSTITUTING A PUBLIC
   19  BENEFIT CORPORATION, A POLITICAL SUBDIVISION OF  THE  STATE,  EXERCISING
   20  GOVERNMENTAL  AND PUBLIC POWERS, PERPETUAL IN DURATION, CAPABLE OF SUING
   21  AND BEING SUED AND HAVING A SEAL, AND WHICH SHALL HAVE  THE  POWERS  AND
   22  DUTIES  ENUMERATED  IN  THIS  TITLE, TOGETHER WITH SUCH OTHERS AS MAY BE
   23  CONFERRED UPON IT BY LAW.
   24    2. THE AUTHORITY SHALL BE GOVERNED BY A BOARD OF DIRECTORS  CONSISTING
   25  OF  NINE  DIRECTORS,  TO  BE  RESIDENTS  OF  THE SERVICE AREA, AND TO BE
   26  APPOINTED BY THE GOVERNOR. SEVEN SUCH DIRECTORS SHALL BE APPOINTED  UPON
   27  THE  RECOMMENDATION  OF THE SUPERVISORS AND MAYORS OF THE MUNICIPALITIES
   28  WITHIN THE FOLLOWING REGIONS, WITH THE DESIGNATIONS TO BE  MADE  IN  THE
   29  FOLLOWING  MANNER: THE VILLAGE OF POTSDAM WILL DESIGNATE ONE DESIGNEE TO
   30  BE FORWARDED TO THE GOVERNOR; THE VILLAGE OF  CANTON  AND  THE  TOWN  OF
   31  CANTON WILL JOINTLY DESIGNATE ONE DESIGNEE TO BE FORWARDED TO THE GOVER-
   32  NOR;  THE  TOWNS OF BOMBAY, BRASHER, FORT COVINGTON, MOIRA AND WESTVILLE
   33  WILL JOINTLY DESIGNATE ONE DESIGNEE TO BE FORWARDED TO THE GOVERNOR; THE
   34  TOWNS OF FOWLER AND GOUVERNEUR WILL JOINTLY DESIGNATE ONE DESIGNEE TO BE
   35  FORWARDED TO THE GOVERNOR; THE  TOWNS  OF  LISBON,  LOUISVILLE,  MADRID,
   36  NORFOLK  AND  WADDINGTON  WILL  JOINTLY  DESIGNATE  ONE  DESIGNEE  TO BE
   37  FORWARDED TO THE GOVERNOR; THE TOWNS OF POTSDAM, STOCKHOLM,  COLTON  AND
   38  THE  VILLAGE  OF  NORWOOD  WILL  JOINTLY  DESIGNATE  ONE  DESIGNEE TO BE
   39  FORWARDED TO THE GOVERNOR; AND THE TOWNS  OF  DEKALB,  EDWARDS,  HERMON,
   40  RUSSELL  AND  PIERREPONT  WILL  JOINTLY  DESIGNATE  ONE  DESIGNEE  TO BE
   41  FORWARDED TO THE GOVERNOR. EVERY DECADE THE DIRECTORS SHALL EXAMINE  THE
   42  POPULATION  OF  THE  SEVEN REGIONS, AND IF NEEDED, ADJUST THE MAKE-UP OR
   43  DEMARCATION OF THE REGIONS, FOR THE NECESSITY OR CONVENIENCE OF PERFORM-
   44  ING ITS FUNCTIONS AND  ADMINISTERING  ITS  AFFAIRS  AND  TO  MAINTAIN  A
   45  REASONABLE  EQUALITY  OF  POPULATION  BETWEEN  THE REGIONS. THE GOVERNOR
   46  SHALL SELECT ONE OF THE DIRECTORS TO SERVE  AS  CHAIR,  AND  SUCH  CHAIR
   47  SHALL  SERVE  AT  THE  PLEASURE OF THE GOVERNOR. THE TERM OF OFFICE OF A
   48  DIRECTOR, INCLUDING THE DIRECTOR SERVING AS CHAIR, SHALL BE FIVE  YEARS,
   49  BUT  IN  THE  FIRST  INSTANCE  SUCH DIRECTORS SHALL BE APPOINTED TO HOLD
   50  OFFICE AS FOLLOWS: THREE FOR ONE YEAR; THREE FOR THREE YEARS; AND  THREE
   51  FOR  FIVE  YEARS. UPON RESIGNATION OF A DIRECTOR, OR A VACANCY OCCURRING
   52  IN ANY OTHER MANNER, SUCH VACANCY SHALL BE FILLED BY APPOINTMENT FOR THE
   53  UNEXPIRED TERM. IN OTHER RESPECTS, ALL VACANCIES SHALL BE FILLED IN  THE
   54  MANNER  CORRESPONDING  TO  THE ORIGINAL APPOINTMENT. EACH DIRECTOR SHALL
   55  CONTINUE TO HOLD OFFICE AND SERVE UNTIL A SUCCESSOR IS APPOINTED, QUALI-
   56  FIED AND ASSUMES OFFICE.
       S. 2813--C                          4
    1    3. THE MEMBERS OF THE BOARD SHALL SERVE WITHOUT COMPENSATION BUT SHALL
    2  BE ENTITLED TO REIMBURSEMENT OF  THEIR  ACTUAL  AND  NECESSARY  EXPENSES
    3  INCURRED  IN THE PERFORMANCE OF THEIR OFFICIAL DUTIES, AS MAY BE AUTHOR-
    4  IZED BY THE DIRECTORS, IN EACH CASE UPON  APPROPRIATE  DOCUMENTATION  BY
    5  THE  SUBMITTING  DIRECTOR.  NO  DIRECTOR  OR ANY ENTITY, THE MAJORITY OF
    6  WHICH IS OWNED OR CONTROLLED BY ANY DIRECTOR, SHALL  RECEIVE  ANY  ADDI-
    7  TIONAL COMPENSATION FROM NCPA OR BE EMPLOYED BY NCPA IN ANY OTHER CAPAC-
    8  ITY BY WHATEVER MEANS.
    9    4.  FIVE  DIRECTORS  SHALL  CONSTITUTE A QUORUM FOR THE TRANSACTION OF
   10  BUSINESS, AND THE AFFIRMATIVE VOTE OF FIVE DIRECTORS AT A MEETING  SHALL
   11  BE  NECESSARY TO THE VALIDITY OF ANY RESOLUTION, ORDER OR DETERMINATION.
   12  THE DIRECTORS, IN BY-LAWS OR BY RESOLUTION, MAY ALLOW FOR ATTENDANCE  AT
   13  A  MEETING  OF  THE  DIRECTORS  BY SPEAKER PHONE OR ANY OTHER ELECTRONIC
   14  MEANS BY WHICH ALL MEETING PARTICIPANTS CAN HEAR ONE ANOTHER.
   15    5. THE DIRECTORS SHALL APPOINT AN EXECUTIVE COMMITTEE OF NOT LESS THAN
   16  THREE DIRECTORS AND SHALL DELEGATE SUCH DUTIES AND  RESPONSIBILITIES  OF
   17  THE  DIRECTORS  TO THE EXECUTIVE COMMITTEE AS IT MAY DETERMINE FROM TIME
   18  TO TIME, EXCEPT THAT THE DIRECTORS SHALL NOT DELEGATE TO  THE  EXECUTIVE
   19  COMMITTEE  THE POWER TO AUTHORIZE THE ISSUANCE OF SECURITIES. THE DIREC-
   20  TORS MAY APPOINT SUCH ADDITIONAL COMMITTEES WITH SUCH DUTIES AND RESPON-
   21  SIBILITIES AS THEY MAY DETERMINE FROM TIME TO TIME.
   22    6. (A) THE DIRECTORS SHALL FROM TIME TO TIME SELECT SUCH OFFICERS  AND
   23  EMPLOYEES,  INCLUDING  A  CHIEF  EXECUTIVE OFFICER AND SUCH ENGINEERING,
   24  MANAGEMENT AND LEGAL OFFICERS, AND OTHER PROFESSIONAL EMPLOYEES, INCLUD-
   25  ING BUT NOT LIMITED  TO  ACCOUNTING,  PLANNING,  CONSTRUCTION,  FINANCE,
   26  APPRAISAL,  BANKING  AND  TRUSTEE SERVICES, AS THE DIRECTORS MAY REQUIRE
   27  FOR THE PERFORMANCE OF THEIR DUTIES AND SHALL PRESCRIBE THE  DUTIES  AND
   28  COMPENSATION OF EACH SUCH OFFICER AND EMPLOYEE.
   29    (B)  IF  ANY EMPLOYEES ARE HIRED AS A CONSEQUENCE OF AN ACQUISITION OF
   30  THE ASSETS OF NATIONAL GRID, THEY SHALL BE HIRED SUBJECT AND BE ENTITLED
   31  TO ALL APPLICABLE PROVISIONS OF (I) ANY EXISTING CONTRACT  OR  CONTRACTS
   32  WITH  LABOR  UNIONS  AND  (II)  ALL EXISTING PENSION OR OTHER RETIREMENT
   33  PLANS. NOTWITHSTANDING THE PROVISIONS OF ANY GENERAL, SPECIAL  OR  LOCAL
   34  LAW, THE BOARD MAY DETERMINE THAT SUCH CLASS OF EMPLOYEES OF THE AUTHOR-
   35  ITY MAY ELECT TO BECOME MEMBERS OF THE NEW YORK STATE EMPLOYEES' RETIRE-
   36  MENT SYSTEM ON THE BASIS OF COMPENSATION PAYABLE TO THEM BY THE AUTHORI-
   37  TY.
   38    7.  (A)  THE AUTHORITY SHALL BE SUBJECT IN ALL RESPECTS TO THE GENERAL
   39  SUPERVISION AND JURISDICTION OF THE PUBLIC  SERVICE  COMMISSION  IN  THE
   40  SAME  MANNER AS A MUNICIPAL ELECTRIC UTILITY IS SUBJECT TO THE JURISDIC-
   41  TION OF THE PUBLIC SERVICE COMMISSION UNDER THE PUBLIC SERVICE LAW.
   42    (B) THE AUTHORITY SHALL NOT MAKE ANY COMMITMENT, ENTER INTO ANY AGREE-
   43  MENT NOR INCUR ANY INDEBTEDNESS UNLESS PRIOR APPROVAL HAS BEEN  RECEIVED
   44  FROM  THE  NEW  YORK  STATE PUBLIC AUTHORITIES CONTROL BOARD PURSUANT TO
   45  ARTICLE ONE-A OF THIS CHAPTER.
   46    (C) IN ADDITION TO ALL OF THE POWERS OF THE PUBLIC SERVICE COMMISSION,
   47  PRIOR TO ACQUIRING ANY PROPERTY AND COMMENCING OPERATIONS, THE AUTHORITY
   48  SHALL SECURE AN ORDER FROM THE COMMISSION AUTHORIZING  SUCH  ACQUISITION
   49  AND  COMMENCEMENT.  THE  COMMISSION  SHALL  HAVE  THE  POWER TO DENY THE
   50  AUTHORITY'S APPLICATION TO ACQUIRE PROPERTY AND COMMENCE OPERATIONS. THE
   51  AUTHORITY SHALL COMPLY WITH ANY AND ALL REQUESTS FOR DOCUMENTS,  MATERI-
   52  ALS,  AND  TESTIMONY  THAT THE COMMISSION MAY SEEK. THE COMMISSION SHALL
   53  CONSIDER, INCLUDING BUT NOT LIMITED TO,  THE  FOLLOWING  FACTORS  BEFORE
   54  ISSUING  AN ORDER:  RATEPAYER IMPACTS; SYSTEM RELIABILITY; ENVIRONMENTAL
   55  IMPACTS, CONSERVATION OF ENERGY RESOURCES; PRESERVATION OR  CREATION  OF
   56  ECONOMIC OPPORTUNITIES; POWER EFFICIENCY AND AVAILABILITY; PUBLIC HEALTH
       S. 2813--C                          5
    1  AND  WELFARE;  AND  ANY  OTHER  FACTOR  IT DEEMS RELEVANT. THE AUTHORITY
    2  GRANTED PURSUANT TO THIS PARAGRAPH SHALL TERMINATE UPON COMMENCEMENT  OF
    3  DISTRIBUTION OF POWER.
    4    8.  THE  AUTHORITY  AND  ITS  CORPORATE EXISTENCE SHALL CONTINUE UNTIL
    5  TERMINATED BY LAW, PROVIDED, HOWEVER, THAT NO SUCH LAW SHALL TAKE EFFECT
    6  SO LONG AS THE  AUTHORITY  SHALL  HAVE  SECURITIES  OUTSTANDING,  UNLESS
    7  ADEQUATE PROVISION HAS BEEN MADE FOR THE PAYMENT THEREOF.
    8    9.  IN THE EVENT THAT THE AUTHORITY DOES NOT COMMENCE DELIVERING ELEC-
    9  TRIC POWER WITHIN TEN YEARS OF THE EFFECTIVE DATE  OF  THIS  TITLE,  THE
   10  AUTHORITY SHALL CEASE TO EXIST AND THE PROVISIONS OF THIS TITLE SHALL BE
   11  OF NO FURTHER FORCE AND EFFECT, SUBJECT TO THE TERMS OF ANY BONDS, NOTES
   12  OR OTHER DEBT OBLIGATIONS THEN OUTSTANDING.
   13    S  1021-C.  NORTH  COUNTRY  POWER AUTHORITY SERVICE AREA; EXTENSION OF
   14  SERVICE AREA. 1.  THE SERVICE AREA OF THE NORTH COUNTRY POWER  AUTHORITY
   15  SHALL  INCLUDE ALL THE TERRITORY LOCATED WITHIN SO MUCH OF THE COUNTY OF
   16  FRANKLIN AS CONSTITUTES THE TOWNS OF BOMBAY, FORT COVINGTON,  MOIRA  AND
   17  WESTVILLE, AND SO MUCH OF THE COUNTY OF ST.  LAWRENCE AS CONSTITUTES THE
   18  TOWNS  OF  BRASHER, CANTON, COLTON, DEKALB, EDWARDS, FOWLER, GOUVERNEUR,
   19  HERMON,  LISBON,  LOUISVILLE,  MADRID,  NORFOLK,  PIERREPONT,   POTSDAM,
   20  RUSSELL,  STOCKHOLM, AND WADDINGTON AND THE VILLAGES OF CANTON, NORWOOD,
   21  AND POTSDAM OR SUCH PORTIONS THEREOF  AS  SHALL  BE  DETERMINED  BY  THE
   22  DIRECTORS, BUT THE SERVICE AREA SHALL EXCLUDE THE PORTIONS OF SAID MUNI-
   23  CIPALITIES IN FRANKLIN AND ST.  LAWRENCE COUNTIES WHICH ARE SERVED AS OF
   24  THE  EFFECTIVE DATE OF THIS TITLE BY ANOTHER EXISTING NON-PROFIT MUNICI-
   25  PAL ELECTRIC UTILITY. THE  SERVICE  AREA  OF  THE  NORTH  COUNTRY  POWER
   26  AUTHORITY  SHALL  INCLUDE SUCH OTHER TERRITORIES, AS SHALL BE DETERMINED
   27  BY THE DIRECTORS, WHOLLY WITHIN FRANKLIN OR ST.   LAWRENCE  COUNTY,  AND
   28  ADJACENT TO ONE OR MORE OF THE ABOVE-REFERENCED MUNICIPALITIES, IN WHICH
   29  RATE PAYERS RELY ON UNINTERRUPTED ELECTRIC SERVICE FROM POWER FACILITIES
   30  OF  THE  AUTHORITY  LOCATED  WITHIN  SAID  MUNICIPALITIES.  A MAP OF THE
   31  SERVICE AREA SHALL BE FILED IN THE  OFFICES  OF  THE  COUNTY  CLERKS  OF
   32  FRANKLIN AND ST. LAWRENCE COUNTIES.
   33    2.  THE  SERVICE  AREA  OF  THE  NORTH  COUNTRY POWER AUTHORITY MAY BE
   34  EXTENDED AT ANY TIME TO INCLUDE ADDITIONAL TERRITORY WITHIN FRANKLIN  OR
   35  ST.  LAWRENCE COUNTIES BY THE DIRECTORS IN ACCORDANCE WITH THE FOLLOWING
   36  PROCEDURE, PROVIDED HOWEVER, THE PROCEDURE DOES NOT  CONFLICT  WITH  ANY
   37  RULE  OR  REGULATION  OF THE PUBLIC SERVICE COMMISSION OR ANY OTHER LAW.
   38  WHENEVER THE DIRECTORS DETERMINE THAT THE TERRITORY INCLUDED WITHIN  THE
   39  SERVICE  AREA SHOULD BE EXTENDED, CONSISTENT WITH THE PROVISIONS OF THIS
   40  TITLE, THE DIRECTORS SHALL ADOPT A RESOLUTION PROPOSING  THE  ADDITIONAL
   41  TERRITORY,  WHOLLY  WITHIN  FRANKLIN  OR  ST.  LAWRENCE  COUNTY,  TO  BE
   42  INCLUDED, WHICH MAY BE ALL THE TERRITORY WITHIN ONE OR MORE NAMED  MUNI-
   43  CIPALITIES  OR,  BY  ADEQUATE DESCRIPTION, A PORTION OF ANY SUCH MUNICI-
   44  PALITY OR MUNICIPALITIES. THE DIRECTORS SHALL FIX THE DATES,  HOURS  AND
   45  PLACES FOR THREE PUBLIC HEARINGS BEFORE SUCH DIRECTORS UPON THE QUESTION
   46  OF  SUCH EXTENSION AND CAUSE NOTICE THEREOF AND OF THE ADDITIONAL TERRI-
   47  TORY TO BE INCLUDED WITHIN THE SERVICE AREA TO BE PUBLISHED IN TWO NEWS-
   48  PAPERS OF GENERAL CIRCULATION IN THE COUNTY NOT  LESS  THAN  TWENTY  NOR
   49  MORE  THAN  THIRTY  DAYS  BEFORE SUCH DATE. AT LEAST ONE OF SUCH HEARING
   50  SHALL BE HELD WITHIN THE BOUNDS OF THE PROPOSED ADDITIONAL TERRITORY. AT
   51  SUCH TIME THE DIRECTORS SHALL HEAR ALL PERSONS, TAXPAYERS  OR  OFFICIALS
   52  WHO  MAY  WISH  TO  BE  HEARD AND SHALL FINALLY DETERMINE THE ADDITIONAL
   53  TERRITORY, IF ANY, TO BE INCLUDED IN SUCH EXTENSION. SUCH  DETERMINATION
   54  SHALL  BE  MADE  BY  RESOLUTION OF THE DIRECTORS ADOPTED BY A TWO-THIRDS
   55  VOTE OF ALL DIRECTORS THEN IN OFFICE. A MAP  OF  THE  SERVICE  AREA,  AS
       S. 2813--C                          6
    1  EXTENDED,  SHALL  THEREUPON BE FILED IN THE OFFICES OF THE COUNTY CLERKS
    2  OF FRANKLIN AND ST. LAWRENCE COUNTIES.
    3    S  1021-D. POWERS AND DUTIES OF THE AUTHORITY. THE POWERS CONFERRED BY
    4  THIS TITLE SHALL BE EXERCISED BY THE DIRECTORS, SUBJECT TO THE TERMS  OF
    5  THIS  TITLE. IN THE EXERCISE OF THOSE POWERS, EITHER DIRECTLY OR THROUGH
    6  ITS OFFICERS AND EMPLOYEES, THE DIRECTORS MAY DO THE  FOLLOWING  THINGS,
    7  AMONG  OTHERS,  AND  THE  FOLLOWING  LIST  OF POWERS SHALL NOT BE DEEMED
    8  COMPLETE OR EXCLUSIVE, OR TO DENY THE EXISTENCE OF OTHER POWERS, WHETHER
    9  SIMILAR OR DIFFERENT, SO LONG  AS  THEY  ARE  REASONABLY  NECESSARY  FOR
   10  ACCOMPLISHING THE PURPOSES DECLARED AND INDICATED IN THIS TITLE:
   11    1.  TO  MAKE  AND  ALTER BY-LAWS FOR THE REGULATION OF ITS AFFAIRS AND
   12  CONDUCT OF ITS ACTIVITIES, TO SCHEDULE ANNUAL, REGULAR AND SPECIAL MEET-
   13  INGS OF THE DIRECTORS, AS THE CONDUCT OF THE BUSINESS OF  THE  AUTHORITY
   14  MAY WARRANT, AND TO ADOPT AND AMEND AN OFFICIAL SEAL;
   15    2.  TO  DEVELOP,  ACQUIRE,  CONSTRUCT,  RECONSTRUCT,  REHABILITATE AND
   16  IMPROVE FACILITIES  FOR  THE  DISTRIBUTION  OF  ELECTRIC  POWER  OR  ANY
   17  CONNECTED SERVICE;
   18    3.  TO  DETERMINE  THE  LOCATION,  TYPE,  SIZE,  CONSTRUCTION,  LEASE,
   19  PURCHASE, OWNERSHIP, ACQUISITION, USE AND OPERATION OF ANY FACILITIES OR
   20  OTHER STRUCTURE OR PROPERTY, WITHIN OR WITHOUT THE SERVICE AREA;
   21    4. TO INVESTIGATE, IMPLEMENT AND  INTEGRATE,  TO  THE  FULLEST  EXTENT
   22  PRACTICABLE  AND  ECONOMICALLY  FEASIBLE, SUCH RESOURCE CONSERVATION AND
   23  ENERGY EFFICIENCY MEASURES AND EQUIPMENT INTENDED TO REDUCE POWER DEMAND
   24  AND USAGE, UTILIZE GREEN TECHNOLOGIES, ALTERNATIVE AND RENEWABLE  FUELS,
   25  NET  METERING  AND DEMAND RESPONSE PROGRAMS, ALL AS INTEGRAL ELEMENTS IN
   26  ITS INVESTMENTS IN NEW EQUIPMENT FOR DISTRIBUTION OF POWER, AND  IN  ITS
   27  MARKETING AND SALE OF ELECTRICITY TO CONSUMERS;
   28    5.  TO  ACQUIRE ON BEHALF OF AND IN THE NAME OF THE AUTHORITY, WHETHER
   29  BY AGREEMENT WITH AND PURCHASE FROM THE OWNER OR  OWNERS,  OR  BY  ARBI-
   30  TRATION,  OR  WITHIN THE SERVICE AREA BY EMINENT DOMAIN, PURSUANT TO THE
   31  PROCEDURES SET FORTH IN THE EMINENT DOMAIN PROCEDURE LAW, OR  BY  LEASE,
   32  THE WHOLE OR ANY PART OF ANY EXISTING FACILITIES OR OF ANY OTHER PROPER-
   33  TY  TO BE USED IN CONNECTION WITH POWER DISTRIBUTION BY THE AUTHORITY AS
   34  SET OUT IN THIS TITLE; PROVIDED, HOWEVER, THAT THE AUTHORITY  SHALL  NOT
   35  ACQUIRE  REAL  PROPERTY  OF A MUNICIPALITY OR A POLITICAL SUBDIVISION OF
   36  THE STATE  UNLESS  SUCH  MUNICIPALITY  OR  POLITICAL  SUBDIVISION  SHALL
   37  CONSENT  THERETO;  AND  PROVIDED  FURTHER  THAT  THE AUTHORITY SHALL NOT
   38  ACQUIRE BY THE EXERCISE OF EMINENT DOMAIN ANY TRANSMISSION OR GENERATION
   39  FACILITIES; AND PROVIDED FURTHER THAT THE AUTHORITY SHALL NOT ACQUIRE BY
   40  THE EXERCISE OF EMINENT DOMAIN ANY FACILITIES FOR DISTRIBUTION OPERATING
   41  AT A VOLTAGE IN EXCESS OF TWENTY-TWO THOUSAND  VOLTS  FROM  ANY  PERSON,
   42  CORPORATION  OR  ASSOCIATION, PUBLIC OR PRIVATE, ENGAGED IN THE BUSINESS
   43  OF DISTRIBUTION AND SALE OF ELECTRICITY TO ULTIMATE CUSTOMERS UNLESS THE
   44  AUTHORITY IS UNABLE TO ACQUIRE BY CONTRACT WITH THE OWNERS OR  OPERATORS
   45  THEREOF,  THE  RIGHT  TO  USE  SUCH  FACILITIES  ON JUST, REASONABLE AND
   46  NON-DISCRIMINATORY TERMS. IN  THE  EXERCISE  OF  THE  POWER  OF  EMINENT
   47  DOMAIN,  AS  PROVIDED  IN  THIS SUBDIVISION, THE PROPERTY BEING ACQUIRED
   48  SHALL BE DEEMED, WHEN SO DETERMINED BY THE AUTHORITY, TO BE FOR A PUBLIC
   49  USE;
   50    6. TO DISTRIBUTE ELECTRIC POWER AND ANY CONNECTED SERVICES WITHIN  THE
   51  SERVICE  AREA,  TO FIX RATES AND CHARGES FOR THE FURNISHING OR RENDITION
   52  OF ELECTRIC POWER OR OF ANY CONNECTED SERVICE, AND TO COLLECT  REVENUES.
   53  PROVIDED  HOWEVER, THAT PRIOR TO THE FIRST SALE OF ELECTRIC POWER OR ANY
   54  CONNECTED SERVICE, THE AUTHORITY SHALL PROMULGATE  REGULATIONS  GRANTING
   55  TO  CUSTOMERS  THE  PROTECTIONS  AFFORDED  BY  ARTICLE TWO OF THE PUBLIC
       S. 2813--C                          7
    1  SERVICE LAW AND SECTION ONE HUNDRED THIRTY-ONE-S OF THE SOCIAL  SERVICES
    2  LAW;
    3    7.  TO MAINTAIN, OPERATE AND MANAGE, AND CONTRACT FOR THE MAINTENANCE,
    4  OPERATION AND MANAGEMENT OF PROPERTIES OF THE AUTHORITY;
    5    8. TO APPLY TO THE APPROPRIATE AGENCIES AND OFFICIALS OF THE  FEDERAL,
    6  STATE  AND LOCAL GOVERNMENTS FOR SUCH LICENSES, PERMITS OR APPROVALS FOR
    7  ITS PLANS AND PROJECTS AS IT MAY DEEM NECESSARY OR ADVISABLE,  AND  UPON
    8  SUCH  TERMS  AND CONDITIONS AS IT MAY DEEM APPROPRIATE TO ACCEPT, IN ITS
    9  DISCRETION, SUCH LICENSES, PERMITS OR APPROVALS AS MAY BE TENDERED TO IT
   10  BY SUCH AGENCIES AND OFFICIALS;
   11    9. TO ENTER UPON SUCH LANDS, WATERS OR PREMISES AS IN THE JUDGMENT  OF
   12  THE  AUTHORITY  SHALL  BE  NECESSARY  FOR THE PURPOSE OF MAKING SURVEYS,
   13  SOUNDINGS, BORINGS AND EXAMINATIONS TO ACCOMPLISH ANY PURPOSE AUTHORIZED
   14  BY THIS TITLE, THE AUTHORITY BEING LIABLE ONLY FOR ACTUAL DAMAGES DONE;
   15    10. TO ENTER INTO COOPERATIVE AGREEMENTS WITH OTHER AUTHORITIES, MUNI-
   16  CIPALITIES, UTILITY COMPANIES, INDIVIDUALS, FIRMS OR  CORPORATIONS,  AND
   17  THE DOMINION OF CANADA AND ITS POLITICAL SUBDIVISIONS, FOR THE INTERCON-
   18  NECTION  OF FACILITIES AND THE EXCHANGE OR INTERCHANGE OF ELECTRIC POWER
   19  OR CONNECTED SERVICES, UPON SUCH TERMS AND CONDITIONS AS SHALL BE DETER-
   20  MINED TO BE REASONABLE;
   21    11. TO EXECUTE CONTRACTS, BORROW MONEY, ISSUE BONDS, NOTES  AND  OTHER
   22  OBLIGATIONS  AS  PROVIDED  IN  SECTION ONE THOUSAND TWENTY-ONE-I OF THIS
   23  TITLE, AND SELL THE SAME IN SUCH AMOUNTS AND AT  SUCH  PRICES,  INTEREST
   24  RATES AND OTHER FINANCIAL TERMS AS MAY BE DETERMINED BY THE DIRECTORS;
   25    12. TO ENTER INTO AGREEMENTS TO PURCHASE POWER FROM THE POWER AUTHORI-
   26  TY  OF  THE  STATE OF NEW YORK, THE STATE, ANY STATE AGENCY, ANY MUNICI-
   27  PALITY, ANY PRIVATE ENTITY OR ANY OTHER AVAILABLE SOURCE AT  SUCH  PRICE
   28  OR  PRICES  AS  MAY BE NEGOTIATED, INCLUDING THE POWER TO ENTER INTO ANY
   29  AGREEMENT OR ANY NEGOTIATION FOR THE PURCHASE OF POWER FROM THE DOMINION
   30  OF CANADA, OR ANY POLITICAL SUBDIVISION,  PUBLIC  AUTHORITY  OR  PRIVATE
   31  CORPORATION THEREIN;
   32    13.  TO  MAKE  ANY  PLANS, STUDIES OR INVESTIGATIONS WHICH IT MAY DEEM
   33  NECESSARY, CONVENIENT OR DESIRABLE TO ENABLE IT EFFECTUALLY TO CARRY OUT
   34  THE PROVISIONS OF THIS TITLE;
   35    14. TO DO WHATEVER MAY BE NECESSARY TO GIVE EFFECT TO THE PURPOSES  OF
   36  THIS  TITLE, AND IN GENERAL TO HAVE AND EXERCISE ALL OTHER POWERS NECES-
   37  SARY OR INCIDENTAL TO THE PURPOSES OF THIS TITLE.
   38    S 1021-E. DEPOSIT AND INVESTMENT OF MONEYS OF THE  AUTHORITY.  1.  ALL
   39  MONEYS  OF THE AUTHORITY, FROM WHATEVER SOURCE DERIVED, EXCEPT AS OTHER-
   40  WISE AUTHORIZED OR PROVIDED IN THIS TITLE, SHALL UPON RECEIPT BE  DEPOS-
   41  ITED  FORTHWITH  IN  A  BANK OR BANKS DESIGNATED BY THE DIRECTORS, TO BE
   42  SELECTED IN ACCORDANCE WITH SUCH STANDARDS AS THE  DIRECTORS  SHALL  SET
   43  FORTH  IN  THE  BY-LAWS OR INVESTMENT GUIDELINES OF THE AUTHORITY, WHICH
   44  STANDARDS SHALL TAKE INTO ACCOUNT THE CREDITWORTHINESS AND CAPITAL POSI-
   45  TION OF THE DEPOSITARY BANK OR BANKS. THE MONEYS IN SUCH ACCOUNTS MAY BE
   46  INVESTED IN OBLIGATIONS OF THE STATE OR THE UNITED STATES, OR GUARANTEED
   47  BY EITHER IN ACCORDANCE WITH PRACTICES  THAT  THE  DIRECTORS  SHALL  SET
   48  FORTH  IN  THE  BY-LAWS  OR  INVESTMENT GUIDELINES OF THE AUTHORITY. THE
   49  MONEYS IN SUCH ACCOUNTS SHALL BE WITHDRAWN ON THE ORDER OF  SUCH  PERSON
   50  OR  PERSONS  AS  THE  DIRECTORS  SHALL  AUTHORIZE  IN THE BY-LAWS OF THE
   51  AUTHORITY AND SHALL BE APPLIED TO THE USE OF THE AUTHORITY AS THE DIREC-
   52  TORS SHALL AUTHORIZE IN THE BY-LAWS OF THE AUTHORITY.  ALL  DEPOSITS  OF
   53  SUCH  MONEYS  SHALL  BE  SECURED  IN ACCORDANCE WITH SECTION TWENTY-NINE
   54  HUNDRED TWENTY-FIVE OF THIS  CHAPTER.  THE  STATE  COMPTROLLER  AND  HIS
   55  LEGALLY  AUTHORIZED  REPRESENTATIVES  ARE  AUTHORIZED AND EMPOWERED FROM
   56  TIME TO TIME TO EXAMINE THE ACCOUNTS AND BOOKS OF THE AUTHORITY, INCLUD-
       S. 2813--C                          8
    1  ING ITS  RECEIPTS,  DISBURSEMENTS,  CONTRACTS,  LEASES,  SINKING  FUNDS,
    2  INVESTMENTS  AND  ANY OTHER RECORDS AND PAPERS RELATING TO ITS FINANCIAL
    3  STANDING; THE AUTHORITY SHALL NOT BE REQUIRED TO PAY A FEE FOR ANY  SUCH
    4  EXAMINATION.
    5    2.  THE  AUTHORITY SHALL HAVE POWER TO CONTRACT WITH HOLDERS OF ANY OF
    6  ITS BONDS OR NOTES OR OTHER OBLIGATIONS, OR ANY TRUSTEE THEREFOR, AS  TO
    7  THE  CUSTODY, COLLECTION, SECURING, INVESTMENT AND PAYMENT OF ANY MONEYS
    8  OF THE AUTHORITY AND OF ANY MONEYS HELD IN TRUST OR  OTHERWISE  FOR  THE
    9  PAYMENT  OF  BONDS  OR  NOTES OR OTHER OBLIGATIONS, AND TO CARRY OUT ANY
   10  SUCH CONTRACT. MONEYS HELD IN TRUST OR  OTHERWISE  FOR  THE  PAYMENT  OF
   11  BONDS  OR  NOTES  OR  OTHER OBLIGATIONS OR IN ANY WAY TO SECURE BONDS OR
   12  NOTES OR OBLIGATIONS AND DEPOSITS OF SUCH MONEYS  SHALL  BE  SECURED  IN
   13  FULL  IN  DIRECT  OBLIGATIONS  OF  THE FEDERAL GOVERNMENT THE PAYMENT OF
   14  WHICH IS GUARANTEED BY THE UNITED STATES OF  AMERICA.  SUCH  INVESTMENTS
   15  SHALL  BE  HELD  ON DEPOSIT ONLY IN BANKS HAVING A MINIMUM CREDIT RATING
   16  AND A MINIMUM ACCUMULATED CAPITAL, AS THE DIRECTORS SHALL SPECIFY IN THE
   17  BY-LAWS OR INVESTMENT GUIDELINES OF THE AUTHORITY.
   18    3. SUBJECT TO AGREEMENTS WITH NOTEHOLDERS AND BONDHOLDERS OR ANY TRUS-
   19  TEE THEREFOR, THE AUTHORITY SHALL PRESCRIBE A UNIFORM SYSTEM OF ACCOUNTS
   20  IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES.
   21    4. THE DIRECTORS SHALL ADOPT INVESTMENT GUIDELINES  AND  STANDARDS  TO
   22  IMPLEMENT THE FOREGOING PROVISIONS OF THIS SECTION, WHICH GUIDELINES AND
   23  STANDARDS  SHALL BE REVIEWED ANNUALLY BY THE DIRECTORS AND SHALL BE MADE
   24  AVAILABLE TO STATE AND MUNICIPAL OFFICIALS AND TO THE PUBLIC.
   25    S 1021-F. CONFLICTS OF INTEREST.  ELIGIBILITY  FOR  APPOINTMENT  AS  A
   26  DIRECTOR,  OFFICER  OR EMPLOYEE OF THE AUTHORITY SHALL BE SUBJECT TO THE
   27  PROVISIONS OF SECTION TWENTY-EIGHT HUNDRED TWENTY-FIVE OF THIS  CHAPTER.
   28  IN ADDITION TO THE REQUIREMENTS OF SUCH SECTION:
   29    1. IF ANY DIRECTOR, OFFICER OR EMPLOYEE OF THE AUTHORITY SHALL HAVE AN
   30  INTEREST,  EITHER  DIRECT  OR  INDIRECT,  IN  ANY  CONTRACT TO WHICH THE
   31  AUTHORITY IS OR IS TO BE A PARTY, SUCH INTEREST SHALL  BE  DISCLOSED  TO
   32  THE  AUTHORITY  IN  WRITING AND SHALL BE SET FORTH IN THE MINUTES OF THE
   33  AUTHORITY. THE DIRECTOR, OFFICER OR EMPLOYEE HAVING SUCH INTEREST  SHALL
   34  NOT  PARTICIPATE  IN  ANY  ACTION  BY THE AUTHORITY WITH RESPECT TO SUCH
   35  CONTRACT.
   36    2. NO DIRECTOR, OFFICER OR EMPLOYEE OF THE AUTHORITY SHALL  BE  DEEMED
   37  TO  HAVE  SUCH  AN  INTEREST  SOLELY  BY  REASON OF THE OWNERSHIP OF TWO
   38  PERCENT OR LESS OF THE SECURITIES OF A CORPORATION WHICH IS OR IS TO  BE
   39  A  PARTY  TO A CONTRACT WITH THE AUTHORITY, INCLUDING WITHOUT LIMITATION
   40  THE HOLDING COMPANY OF ANY BANKING INSTITUTION IN WHICH THE FUNDS OF THE
   41  AUTHORITY ARE, OR ARE TO BE DEPOSITED, OR WHICH IS OR IS TO BE ACTING AS
   42  TRUSTEE OR PAYING AGENT UNDER ANY BOND OR NOTE RESOLUTION, TRUST  INDEN-
   43  TURE OR SIMILAR INSTRUMENT TO WHICH THE AUTHORITY IS A PARTY.
   44    3.  NOTHING  IN THIS SECTION SHALL BE DEEMED OR CONSTRUED TO LIMIT THE
   45  RIGHT OF ANY DIRECTOR, OFFICER OR EMPLOYEE OF THE AUTHORITY  TO  ACQUIRE
   46  AN INTEREST IN THE SECURITIES OF THE AUTHORITY.
   47    S 1021-G. SALE OF SURPLUS POWER. WHENEVER ANY ELECTRIC POWER WHICH THE
   48  AUTHORITY  MAY  ACQUIRE  CREATES  A  SURPLUS OVER THE AMOUNT OF ELECTRIC
   49  POWER REQUIRED BY THE RESIDENTS OF THE SERVICE AREA, THE  AUTHORITY  MAY
   50  SELL  SUCH  SURPLUS IN TERRITORY OUTSIDE THE SERVICE AREA TO PERSONS, OR
   51  PUBLIC OR PRIVATE CORPORATIONS. IN ACQUIRING ANY  FACILITY  OR  PROPERTY
   52  WHICH  ALSO  SERVES  ANY  MUNICIPALITY  OR TERRITORY OUTSIDE THE SERVICE
   53  AREA, THE AUTHORITY, IF IT DEEMS IT ADVANTAGEOUS AND  ECONOMICAL  SO  TO
   54  DO,  MAY, WITH THE CONSENT OF THE DIRECTORS, SERVE ANY SUCH MUNICIPALITY
   55  OR TERRITORY OR SELL ELECTRIC POWER TO PERSONS,  OR  PUBLIC  OR  PRIVATE
   56  CORPORATIONS IN SUCH TERRITORY OR TO SUCH MUNICIPALITY.
       S. 2813--C                          9
    1    S  1021-H.  AUDIT AND ANNUAL REPORTS. 1. THE ACCOUNTS OF THE AUTHORITY
    2  SHALL BE SUBJECT TO THE SUPERVISION OF THE  COMPTROLLER  AND  AN  ANNUAL
    3  AUDIT  SHALL  BE PERFORMED BY AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT
    4  SELECTED BY THE DIRECTORS AND SHALL BE MADE  AVAILABLE  TO  THE  MUNICI-
    5  PALITIES SERVED BY THE NCPA AND TO THE PUBLIC.
    6    2. THE AUTHORITY SHALL SUBMIT A DETAILED ANNUAL REPORT PURSUANT TO AND
    7  AS SPECIFIED IN SECTION TWENTY-EIGHT HUNDRED OF THIS CHAPTER, AND A COPY
    8  OF SUCH REPORT SHALL BE FILED WITH THE COUNTY EXECUTIVES OF THE COUNTIES
    9  OF FRANKLIN AND ST. LAWRENCE, AND WITH THE MAYORS AND SUPERVISORS OF THE
   10  MUNICIPALITIES  WITHIN  THE  SERVICE AREA AND SHALL BE MADE AVAILABLE TO
   11  THE MUNICIPALITIES SERVED BY THE NCPA AND TO THE PUBLIC. NOTHING IN THIS
   12  SECTION SHALL BE DEEMED TO EXEMPT THE AUTHORITY FROM ANY RULE  OR  REGU-
   13  LATION, INCLUDING PUBLIC AUTHORITIES LAW.
   14    S  1021-I. BONDS, NOTES AND OTHER OBLIGATIONS OF THE AUTHORITY. 1. THE
   15  AUTHORITY SHALL HAVE POWER AND IS HEREBY AUTHORIZED FROM TIME TO TIME TO
   16  ISSUE ITS BONDS, NOTES OR OTHER OBLIGATIONS, IN AN AGGREGATE AMOUNT  NOT
   17  TO  EXCEED  ONE  HUNDRED TWENTY-FIVE MILLION DOLLARS, FOR THE PURPOSE OF
   18  FINANCING ANY CAPITAL PROJECT AUTHORIZED BY THIS  TITLE,  INCLUDING  BUT
   19  NOT  LIMITED  TO,  THE  ACQUISITION  OF ANY REAL OR PERSONAL PROPERTY OR
   20  FACILITIES DEEMED NECESSARY BY THE AUTHORITY,  DEVELOPMENT  AND  PROFES-
   21  SIONAL  EXPENSES,  AND FUNDING ANY CAPITAL OR OTHER RESERVE FUNDS ESTAB-
   22  LISHED IN CONNECTION WITH THE AUTHORITY'S OPERATIONS  OR  ISSUANCES,  IN
   23  SUCH  PRINCIPAL  AMOUNT  AS  THE  DIRECTORS SHALL DETERMINE NECESSARY TO
   24  PERFORM ITS CORPORATE DUTIES AND FURTHER ITS PURPOSES AS  AUTHORIZED  IN
   25  THIS TITLE. THE MAXIMUM MATURITY OF ANY SUCH BOND SHALL NOT EXCEED THIR-
   26  TY  YEARS  FROM  ITS  DATE OF ISSUANCE. THE MAXIMUM MATURITY OF ANY SUCH
   27  NOTE OR OTHER OBLIGATION SHALL NOT EXCEED FIVE YEARS FROM  ITS  DATE  OF
   28  ISSUANCE.
   29    2. EXCEPT AS MAY BE OTHERWISE EXPRESSLY PROVIDED BY THE AUTHORITY, THE
   30  ISSUANCE  OF  BONDS,  NOTES OR OTHER OBLIGATIONS, SHALL BE GENERAL OBLI-
   31  GATIONS OF THE AUTHORITY PAYABLE OUT OF ANY MONEYS OR  REVENUES  OF  THE
   32  AUTHORITY, SUBJECT ONLY TO ANY AGREEMENTS WITH THE HOLDERS OF PARTICULAR
   33  BONDS,  NOTES  OR  OTHER  OBLIGATIONS  PLEDGING ANY PARTICULAR MONEYS OR
   34  REVENUES.
   35    3. THE AUTHORITY SHALL HAVE POWER FROM TIME TO TIME, WHENEVER IT DEEMS
   36  REFUNDING EXPEDIENT, TO REFUND ANY BONDS, NOTES OR OTHER OBLIGATIONS  BY
   37  THE ISSUANCE OF NEW BONDS, NOTES OR OTHER OBLIGATIONS, UP TO ONE HUNDRED
   38  TWENTY-FIVE  MILLION  DOLLARS IN THE AGGREGATE, WHETHER THE BONDS, NOTES
   39  OR OTHER OBLIGATIONS TO BE REFUNDED HAVE OR HAVE NOT  MATURED,  AND  MAY
   40  ISSUE BONDS, NOTES OR OTHER OBLIGATIONS PARTLY TO REFUND BONDS, NOTES OR
   41  OTHER  OBLIGATIONS  THEN  OUTSTANDING  AND  PARTLY FOR ANY OTHER PURPOSE
   42  DESCRIBED IN THIS SECTION. REFUNDING BONDS, NOTES OR  OTHER  OBLIGATIONS
   43  MAY  BE  EXCHANGED  FOR  THE  BONDS,  NOTES  OR  OTHER OBLIGATIONS TO BE
   44  REFUNDED, WITH SUCH CASH ADJUSTMENTS AS MAY BE AGREED, OR  MAY  BE  SOLD
   45  WITH  THE PROCEEDS APPLIED TO THE PURCHASE OR PAYMENT OF THE BONDS TO BE
   46  REFUNDED.
   47    4. BONDS MAY BE ISSUED EITHER IN A SERIES WITH MULTIPLE DISCRETE MATU-
   48  RITY DATES OR AS TERM BONDS WITH A  SINGLE  MATURITY  DATE.  THE  BONDS,
   49  NOTES  OR  OTHER  OBLIGATIONS  SHALL  BE AUTHORIZED BY RESOLUTION OF THE
   50  DIRECTORS AND SHALL BEAR SUCH DATE OR DATES,  MATURE  AT  SUCH  TIME  OR
   51  TIMES, BEAR INTEREST AT SUCH RATE OR RATES, PAYABLE ANNUALLY OR SEMI-AN-
   52  NUALLY,  BE IN SUCH DENOMINATIONS, BE IN SUCH FORM, CARRY SUCH REGISTRA-
   53  TION PRIVILEGES, BE EXECUTED IN SUCH MANNER, BE PAYABLE IN LAWFUL  MONEY
   54  OF  THE UNITED STATES OF AMERICA AT SUCH PLACE OR PLACES, AND BE SUBJECT
   55  TO SUCH TERMS OF REDEMPTION,  AS  SUCH  RESOLUTION  OR  RESOLUTIONS  MAY
   56  PROVIDE.  IN  THE  EVENT THAT TERM BONDS, NOTES OR OTHER OBLIGATIONS ARE
       S. 2813--C                         10
    1  ISSUED, THE RESOLUTION AUTHORIZING THE SAME MAY MAKE SUCH PROVISIONS FOR
    2  THE ESTABLISHMENT AND MANAGEMENT  OF  ADEQUATE  SINKING  FUNDS  FOR  THE
    3  PAYMENT THEREOF, AS THE AUTHORITY MAY DEEM NECESSARY.
    4    5.  THE BONDS, NOTES OR OTHER OBLIGATIONS OF THE AUTHORITY MAY BE SOLD
    5  AT PUBLIC OR PRIVATE SALE FOR SUCH PRICE  OR  PRICES  AS  THE  AUTHORITY
    6  SHALL  DETERMINE.  FOR  A  PRIVATE SALE OF ITS SECURITIES, THE AUTHORITY
    7  SHALL OBTAIN THE WRITTEN APPROVAL OF THE TERMS OF  SUCH  SALE  FROM  THE
    8  COMPTROLLER  IF  SUCH  SALE IS TO A PARTY OTHER THAN THE COMPTROLLER, OR
    9  FROM THE DIRECTOR OF THE BUDGET WHERE SUCH SALE IS TO  THE  COMPTROLLER,
   10  IN EITHER CASE PRIOR TO CLOSING THE ISSUANCE TRANSACTION.
   11    6.  ANY  RESOLUTION  AUTHORIZING ANY ISSUANCE OF BONDS, NOTES OR OTHER
   12  OBLIGATIONS MAY CONTAIN  PROVISIONS,  WHICH  SHALL  BE  A  PART  OF  THE
   13  CONTRACT BETWEEN THE AUTHORITY AND THE HOLDERS OF THE ISSUED SECURITIES,
   14  AS TO:
   15    (A)  PLEDGING  ALL OR ANY PART OF THE REVENUES OF THE AUTHORITY OR ITS
   16  PROJECTS OR ANY REVENUE PRODUCING CONTRACT  OR  CONTRACTS  MADE  BY  THE
   17  AUTHORITY  WITH  ANY INDIVIDUAL, PARTNERSHIP, LIMITED LIABILITY COMPANY,
   18  CORPORATION OR ASSOCIATION TO SECURE THE PAYMENT OF THE BONDS, NOTES  OR
   19  OTHER OBLIGATIONS, SUBJECT TO SUCH AGREEMENTS WITH HOLDERS OF SECURITIES
   20  OF THE AUTHORITY;
   21    (B)  PLEDGING,  ASSIGNING  OR  CREATING  A  LIEN ON ALL OR ANY PART OF
   22  ASSETS OF THE AUTHORITY, INCLUDING MORTGAGES  AND  OBLIGATIONS  SECURITY
   23  MORTGAGES,  TO  SECURE  THE PAYMENT OF THE BONDS, SUBJECT TO SUCH AGREE-
   24  MENTS WITH HOLDERS OF SECURITIES OF THE AUTHORITY;
   25    (C) THE SETTING ASIDE OF RESERVES OR SINKING FUNDS, AND THE REGULATION
   26  AND DISPOSITION THEREOF;
   27    (D) ESTABLISHMENT OF SPECIAL FUNDS FOR DEPOSIT OF MONEYS RECEIVED FROM
   28  THE PROCEEDS OF THE ISSUANCE OF SECURITIES AS THE DIRECTORS SHALL DETER-
   29  MINE, CONSISTENT WITH THE AUTHORIZING RESOLUTION AND THE  PROVISIONS  OF
   30  THIS TITLE;
   31    (E)  LIMITATIONS  ON  THE PURPOSE TO WHICH THE PROCEEDS OF SALE OF ANY
   32  ISSUANCE OF BONDS, NOTES OR OTHER OBLIGATIONS THEN OR THEREAFTER  TO  BE
   33  ISSUED  MAY  BE APPLIED AND PLEDGING SUCH PROCEEDS TO SECURE THE PAYMENT
   34  OF THE BONDS, NOTES OR OTHER OBLIGATIONS;
   35    (F) LIMITATIONS OF THE ISSUANCE OF ADDITIONAL BONDS,  NOTES  OR  OTHER
   36  OBLIGATIONS; THE TERMS UPON WHICH ADDITIONAL BONDS, NOTES OR OTHER OBLI-
   37  GATIONS  MAY  BE  ISSUED  AND  SECURED; AND THE REFUNDING OF OUTSTANDING
   38  BONDS, NOTES OR OTHER OBLIGATIONS;
   39    (G) THE PROCEDURE, IF ANY, BY WHICH THE TERMS  OF  ANY  CONTRACT  WITH
   40  BONDHOLDERS MAY BE AMENDED OR ABROGATED, THE AMOUNT OF BONDS THE HOLDERS
   41  OF  WHICH MUST CONSENT THERETO, AND THE MANNER IN WHICH SUCH CONSENT MAY
   42  BE GIVEN;
   43    (H) PROVIDING FOR THE APPOINTMENT AND POWERS OF A TRUSTEE FOR  HOLDERS
   44  OF  SECURITIES, AND THE RIGHTS, POWERS AND DUTIES OF SUCH TRUSTEE AS THE
   45  DIRECTORS MAY DETERMINE;
   46    (I) LIMITATIONS ON THE AMOUNT OF MONEYS DERIVED FROM A PROJECT  TO  BE
   47  EXPENDED FOR OPERATING, ADMINISTRATIVE OR OTHER EXPENSES OF THE AUTHORI-
   48  TY;
   49    (J)  DEFINING  THE  ACTS  OR OMISSIONS TO ACT WHICH SHALL CONSTITUTE A
   50  DEFAULT IN THE DUTIES OF THE AUTHORITY TO HOLDERS OF ITS OBLIGATIONS AND
   51  PROVIDING THE RIGHTS AND REMEDIES OF SUCH HOLDERS  IN  THE  EVENT  OF  A
   52  DEFAULT  PROVIDED,  HOWEVER,  THAT SUCH RIGHTS AND REMEDIES SHALL NOT BE
   53  INCONSISTENT WITH THE LAWS OF THE STATE AND THE OTHER PROVISIONS OF THIS
   54  ARTICLE; AND PROVIDED, FURTHER, HOWEVER, THAT NOTHING CONTAINED IN  THIS
   55  ARTICLE  SHALL  BE  DEEMED  TO RESTRICT THE RIGHT OF THE STATE OR OF ANY
   56  MUNICIPALITY TO AMEND, MODIFY OR OTHERWISE ALTER STATUTES,  LOCAL  LAWS,
       S. 2813--C                         11
    1  ORDINANCES,  RESOLUTIONS  OR AGREEMENTS IMPOSING OR RELATING TO TAXES OR
    2  FEES OR APPROPRIATIONS RELATING THERETO; AND THERE SHALL NOT BE INCLUDED
    3  IN ANY RESOLUTION OR CONTRACT OR  AGREEMENT  WITH  THE  HOLDERS  OF  THE
    4  BONDS,  NOTES  OR  OTHER  OBLIGATIONS  AUTHORIZED  BY  THIS  ARTICLE ANY
    5  PROVISION WHICH PROVIDES THAT A DEFAULT SHALL OCCUR AS A RESULT  OF  THE
    6  STATE  OR  OF  A  MUNICIPALITY  EXERCISING ITS RIGHT TO AMEND, MODIFY OR
    7  OTHERWISE ALTER LAWS, ORDINANCES, RESOLUTIONS OR AGREEMENTS IMPOSING  OR
    8  RELATING TO TAXES OR FEES OR APPROPRIATIONS RELATING THERETO; AND
    9    (K)  ANY  OTHER  PROVISIONS  NOT INCONSISTENT WITH THOSE ENUMERATED IN
   10  THIS SUBDIVISION AND NECESSARY TO EFFECT ITS ISSUANCES OF  BONDS,  NOTES
   11  OR OTHER OBLIGATIONS AND THE RIGHTS OF THE HOLDERS OF ITS SECURITIES, OR
   12  OTHERWISE IN FURTHERANCE OF ITS CORPORATE PURPOSES.
   13    7.  NOTWITHSTANDING ANY OTHER PROVISION OF THIS TITLE, ANY SUCH RESOL-
   14  UTION OR RESOLUTIONS SHALL CONTAIN A COVENANT BY THE AUTHORITY  THAT  IT
   15  WILL AT ALL TIMES MAINTAIN RATES, FEES OR CHARGES SUFFICIENT TO PAY, AND
   16  THAT  ANY  CONTRACTS  ENTERED  INTO  BY  THE  AUTHORITY  FOR THE SALE OR
   17  DISTRIBUTION OF POWER SHALL CONTAIN RATES, FEES OR CHARGES SUFFICIENT TO
   18  PAY THE COSTS OF OPERATION AND MAINTENANCE OF THE PROJECT, THE PRINCIPAL
   19  OF AND INTEREST ON ANY OBLIGATIONS ISSUED PURSUANT TO SUCH RESOLUTION AS
   20  THE SAME SEVERALLY BECOME DUE AND PAYABLE,  AND  TO  MAINTAIN  ANY  DEBT
   21  SERVICE  COVERAGE  RATIOS AND ANY RESERVES REQUIRED BY THE TERMS OF SUCH
   22  RESOLUTION OR RESOLUTIONS. PROVIDED HOWEVER, THAT THE TOTAL RATES, FEES,
   23  AND CHARGES SHALL NOT EXCEED THE PREVAILING ELECTRIC RATE IN  THE  NORTH
   24  COUNTRY.  THE  PREVAILING  ELECTRIC RATE IN THE NORTH COUNTRY SHALL MEAN
   25  THE AVERAGE OF THE TOTAL RATES, FEES, AND CHARGES PAID BY  CUSTOMERS  OF
   26  NATIONAL GRID AND NEW YORK STATE ELECTRIC AND GAS, OR ANY SUCCESSORS, IN
   27  ST.    LAWRENCE,  FRANKLIN,  AND JEFFERSON COUNTIES. COMPLIANCE WITH THE
   28  PREVAILING ELECTRIC RATES IN THE NORTH COUNTRY SHALL BE LEFT TO THE SOLE
   29  DETERMINATION OF THE PUBLIC SERVICE COMMISSION.
   30    8. IT IS THE INTENT OF THIS TITLE THAT ANY PLEDGE OF REVENUES OR OTHER
   31  MONEYS OR OF A REVENUE PRODUCING  CONTRACT  OR  CONTRACTS  MADE  BY  THE
   32  AUTHORITY  SHALL  BE  VALID AND BINDING FROM THE TIME WHEN THE PLEDGE IS
   33  MADE; THAT THE REVENUES OR OTHER MONEYS OR PROCEEDS OF ANY  CONTRACT  OR
   34  CONTRACTS  SO  PLEDGED  AND  THEREAFTER  RECEIVED BY THE AUTHORITY SHALL
   35  IMMEDIATELY BE SUBJECT TO THE LIEN OF SUCH PLEDGE WITHOUT  ANY  PHYSICAL
   36  DELIVERY  THEREOF  OR  FURTHER ACT; AND THAT THE LIEN OF ANY SUCH PLEDGE
   37  SHALL BE VALID AND BINDING AS AGAINST ALL PARTIES HAVING CLAIMS  OF  ANY
   38  KIND  IN  TORT, CONTRACT OR OTHERWISE AGAINST THE AUTHORITY IRRESPECTIVE
   39  OF WHETHER SUCH PARTIES HAVE NOTICE THEREOF. NEITHER THE RESOLUTION  NOR
   40  ANY OTHER INSTRUMENT BY WHICH A PLEDGE IS CREATED NEED BE RECORDED.
   41    9. NEITHER THE DIRECTORS OF THE AUTHORITY NOR ANY PERSON EXECUTING THE
   42  BONDS,  NOTES  OR  OTHER  OBLIGATIONS  SHALL BE LIABLE PERSONALLY ON THE
   43  BONDS, NOTES OR OTHER OBLIGATIONS OR BE SUBJECT TO ANY PERSONAL  LIABIL-
   44  ITY OR ACCOUNTABILITY BY REASON OF THE ISSUANCE THEREOF.
   45    10.  THE  AUTHORITY  SHALL  HAVE  THE POWER OUT OF ANY FUNDS AVAILABLE
   46  THEREFOR TO PURCHASE BONDS, NOTES OR OTHER  OBLIGATIONS.  THE  AUTHORITY
   47  MAY  HOLD,  PLEDGE,  CANCEL  OR  RESELL SUCH BONDS, NOTES OR OTHER OBLI-
   48  GATIONS, SUBJECT TO AND IN ACCORDANCE WITH AGREEMENTS WITH BONDHOLDERS.
   49    11. ANY BONDS, NOTES OR OTHER OBLIGATIONS ISSUED BY THE AUTHORITY  ARE
   50  HEREBY  MADE  SECURITIES IN WHICH ALL PUBLIC OFFICERS AND BODIES OF THIS
   51  STATE AND ALL MUNICIPALITIES AND MUNICIPAL SUBDIVISIONS,  ALL  INSURANCE
   52  COMPANIES  AND  ASSOCIATIONS  AND OTHER PERSONS CARRYING ON AN INSURANCE
   53  BUSINESS, ALL BANKS, BANKERS, TRUST COMPANIES, SAVINGS BANKS AND SAVINGS
   54  ASSOCIATIONS, INCLUDING SAVINGS AND LOAN ASSOCIATIONS, BUILDING AND LOAN
   55  ASSOCIATIONS, INVESTMENT COMPANIES AND OTHER PERSONS CARRYING ON A BANK-
   56  ING BUSINESS, AND ALL OTHER PERSONS WHATSOEVER  WHO  ARE  AUTHORIZED  TO
       S. 2813--C                         12
    1  INVEST  IN  BONDS, NOTES OR OTHER OBLIGATIONS OF THE STATE, MAY PROPERLY
    2  AND LEGALLY INVEST FUNDS INCLUDING CAPITAL IN THEIR CONTROL OR BELONGING
    3  TO THEM; SUBJECT TO THE PROVISIONS OF ANY OTHER GENERAL OR  SPECIAL  LAW
    4  TO THE CONTRARY.
    5    12. THE AUTHORITY IS AUTHORIZED TO OBTAIN FROM ANY DEPARTMENT OR AGEN-
    6  CY  OF  THE UNITED STATES OF AMERICA OR THE STATE OR ANY NONGOVERNMENTAL
    7  INSURER OR FINANCIAL INSTITUTION ANY INSURANCE, GUARANTY OR OTHER CREDIT
    8  SUPPORT DEVICE, TO THE EXTENT AVAILABLE, AS TO, OR FOR  THE  PAYMENT  OR
    9  REPAYMENT OF INTEREST OR PRINCIPAL, OR BOTH, OR ANY PART THEREOF, ON ANY
   10  BONDS,  NOTES  OR OTHER OBLIGATIONS ISSUED BY THE AUTHORITY AND TO ENTER
   11  INTO ANY AGREEMENT OR CONTRACT WITH RESPECT TO  ANY  SUCH  INSURANCE  OR
   12  GUARANTY,  EXCEPT TO THE EXTENT THAT THE SAME WOULD IN ANY WAY IMPAIR OR
   13  INTERFERE WITH THE ABILITY OF THE AUTHORITY TO PERFORM AND  FULFILL  THE
   14  TERMS OF ANY AGREEMENT MADE WITH THE HOLDERS OF OUTSTANDING BONDS, NOTES
   15  OR OTHER OBLIGATIONS OF THE AUTHORITY.
   16    13.  IN  ADDITION  TO  THE  POWERS  CONFERRED IN THIS SECTION UPON THE
   17  AUTHORITY TO SECURE ITS BONDS, NOTES OR OTHER OBLIGATIONS, THE AUTHORITY
   18  SHALL HAVE THE POWER IN CONNECTION WITH THE ISSUANCE OF BONDS, NOTES  OR
   19  OTHER  OBLIGATIONS  TO  ENTER  INTO SUCH AGREEMENTS AS THE AUTHORITY MAY
   20  DEEM NECESSARY, CONVENIENT OR DESIRABLE CONCERNING THE USE  OR  DISPOSI-
   21  TION  OF  ITS REVENUES OR OTHER MONEYS OR PROPERTY, AND FOR THE ACQUISI-
   22  TION, ALTERATION OR DISPOSITION OF  ITS  PROPERTY,  REAL  AND  PERSONAL,
   23  INCLUDING  THE  MORTGAGING  OF ANY OF ITS PROPERTIES AND THE ENTRUSTING,
   24  PLEDGING OR CREATION OF ANY OTHER SECURITY INTEREST IN ANY  SUCH  REVEN-
   25  UES, MONEYS OR PROPERTIES AND THE DOING OF ANY ACT, INCLUDING REFRAINING
   26  FROM  DOING  ANY  ACT, WHICH THE AUTHORITY WOULD HAVE THE RIGHT TO DO IN
   27  THE ABSENCE OF SUCH AGREEMENTS. THE AUTHORITY SHALL HAVE  THE  POWER  TO
   28  ENTER  INTO  AMENDMENTS OF ANY SUCH AGREEMENTS WITHIN THE POWERS GRANTED
   29  TO THE AUTHORITY BY THIS TITLE  AND  TO  PERFORM  SUCH  AGREEMENTS.  THE
   30  PROVISIONS  OF  ANY  SUCH  AGREEMENTS MAY BE MADE A PART OF THE CONTRACT
   31  WITH THE HOLDERS OF BONDS, NOTES OR OTHER OBLIGATIONS OF THE AUTHORITY.
   32    14. ALL BONDS, NOTES AND OTHER OBLIGATIONS  ISSUED  BY  THE  AUTHORITY
   33  UNDER  THE  PROVISIONS OF THIS TITLE ARE HEREBY DECLARED TO HAVE ALL THE
   34  QUALITIES AND INCIDENTS OF NEGOTIABLE INSTRUMENTS UNDER  THE  APPLICABLE
   35  LAWS OF THE STATE.
   36    15. NOTHING IN THIS SUBDIVISION SHALL BE DEEMED TO ALLOW THE AUTHORITY
   37  TO  EXCEED  ITS  ONE  HUNDRED  TWENTY-FIVE MILLION DOLLAR AGGREGATE DEBT
   38  LIMIT.
   39    S 1021-J. STATE AND MUNICIPALITIES NOT LIABLE ON  BONDS  OR  NOTES  OR
   40  OTHER  OBLIGATIONS.  THE SECURITIES OF THE AUTHORITY SHALL NOT BE A DEBT
   41  OF THE STATE OR OF ANY MUNICIPALITY, AND NEITHER THE STATE NOR ANY MUNI-
   42  CIPALITY SHALL BE LIABLE THEREON. THE AUTHORITY SHALL NOT HAVE THE POWER
   43  TO PLEDGE OR RESTRICT THE CREDIT, THE REVENUES OR THE  TAXING  POWER  OF
   44  THE  STATE  OR OF ANY MUNICIPALITY, AND NEITHER THE CREDIT, THE REVENUES
   45  NOR THE TAXING POWER OF THE STATE OR OF ANY  MUNICIPALITY  SHALL  BE  OR
   46  SHALL  BE  DEEMED  TO BE PLEDGED TO THE PAYMENT OF ANY SECURITIES OF THE
   47  AUTHORITY. EACH EVIDENCE OF INDEBTEDNESS OF THE AUTHORITY, INCLUDING THE
   48  SECURITIES OF THE AUTHORITY, SHALL CONTAIN A CLEAR AND  EXPLICIT  STATE-
   49  MENT  OF  THE PROVISIONS OF THIS SECTION.  NOTHING IN THIS ARTICLE SHALL
   50  BE DEEMED TO OBLIGATE THE STATE OR ANY MUNICIPALITY TO MAKE ANY PAYMENTS
   51  OR IMPOSE ANY TAXES TO SATISFY  THE  DEBT  SERVICE  OBLIGATIONS  OF  THE
   52  AUTHORITY.
   53    S  1021-K. AGREEMENT OF THE STATE. THE STATE DOES HEREBY PLEDGE TO AND
   54  AGREE WITH THE HOLDERS OF ANY BONDS, NOTES OR OTHER  OBLIGATIONS  ISSUED
   55  BY  THE  AUTHORITY  UNDER  THIS  TITLE, THAT THE STATE WILL NOT LIMIT OR
   56  ALTER THE RIGHTS HEREBY VESTED IN THE AUTHORITY TO ESTABLISH AND COLLECT
       S. 2813--C                         13
    1  THE REVENUES AND OTHER CHARGES REFERRED TO IN THIS TITLE AND TO  FULFILL
    2  THE  TERMS OF ANY AGREEMENTS MADE WITH OR FOR THE BENEFIT OF THE HOLDERS
    3  OF THE SECURITIES, OR IN ANY WAY IMPAIR THE RIGHTS AND REMEDIES  OF  THE
    4  BONDHOLDERS  UNTIL  SUCH  SECURITIES  ARE  FULLY MET AND DISCHARGED. THE
    5  AUTHORITY IS AUTHORIZED TO INCLUDE THIS  PLEDGE  OF  THE  STATE  IN  ALL
    6  AGREEMENTS BY THE AUTHORITY WITH THE HOLDERS OF ITS SECURITIES.  NOTHING
    7  CONTAINED  IN  THIS ARTICLE SHALL BE DEEMED TO RESTRICT ANY RIGHT OF THE
    8  STATE OR MUNICIPALITY TO AMEND, MODIFY, REPEAL OR OTHERWISE ALTER  STAT-
    9  UTES  IMPOSING  OR RELATING TO TAXES OR FEES, OR APPROPRIATIONS RELATING
   10  THERETO. THE AUTHORITY SHALL NOT INCLUDE WITHIN ANY RESOLUTION, CONTRACT
   11  OR AGREEMENT WITH HOLDERS OF  THE  BONDS,  NOTES  OR  OTHER  OBLIGATIONS
   12  ISSUED  UNDER  THIS  ARTICLE ANY PROVISION WHICH PROVIDES THAT A DEFAULT
   13  OCCURS AS A RESULT OF THE STATE OR  OF  A  MUNICIPALITY  EXERCISING  ITS
   14  RIGHT  TO AMEND, MODIFY, OR REPEAL OR OTHERWISE ALTER ANY STATUTE IMPOS-
   15  ING OR RELATING TO TAXES, FEES, OR APPROPRIATIONS RELATING THERETO.
   16    S 1021-L. EXEMPTION OF THE AUTHORITY FROM TAXATION. 1.  IT  IS  HEREBY
   17  FOUND  AND DECLARED THAT THE OPERATION OF THE AUTHORITY IS PRIMARILY FOR
   18  THE BENEFIT OF THE PEOPLE OF THE PARTICIPATING MUNICIPALITIES,  COUNTIES
   19  AND THE STATE, FOR THE IMPROVEMENT OF THEIR HEALTH, WELFARE AND PROSPER-
   20  ITY,  AND  IS  A  PUBLIC PURPOSE, AND THE AUTHORITY SHALL BE REGARDED AS
   21  PERFORMING AN  ESSENTIAL  GOVERNMENTAL  FUNCTION  IN  CARRYING  OUT  THE
   22  PROVISIONS OF THIS TITLE.
   23    2.  THE  AUTHORITY  SHALL  BE REQUIRED TO PAY NO TAXES NOR ASSESSMENTS
   24  UPON ANY OF THE PROPERTY ACQUIRED OR CONTROLLED BY IT OR UPON ITS ACTIV-
   25  ITIES IN THE OPERATION AND MAINTENANCE THEREOF OR  UPON  INCOME  DERIVED
   26  THEREFROM, PROVIDED THAT NOTHING HEREIN SHALL PREVENT THE AUTHORITY FROM
   27  ENTERING INTO AGREEMENTS TO MAKE PAYMENTS IN LIEU OF TAXES.
   28    3.  THE  AUTHORITY  SHALL  MAKE  PAYMENTS  IN LIEU OF TAXES TO MUNICI-
   29  PALITIES AND SCHOOL DISTRICTS EQUAL TO THE TAXES AND  ASSESSMENTS  WHICH
   30  WOULD HAVE BEEN RECEIVED FROM YEAR TO YEAR BY SUCH JURISDICTION.
   31    4.  THE  AUTHORITY SHALL ALSO MAKE PAYMENTS IN LIEU OF TAXES FOR THOSE
   32  TAXES WHICH WOULD OTHERWISE BE IMPOSED UPON A UTILITY CORPORATION PURSU-
   33  ANT TO: (A) SECTION ONE HUNDRED  EIGHTY-SIX-A  AND  FORMER  SECTION  ONE
   34  HUNDRED  EIGHTY-SIX  OF  THE  TAX LAW AS SUCH SECTIONS WERE IN EFFECT ON
   35  DECEMBER THIRTY-FIRST,  NINETEEN  HUNDRED  NINETY-NINE;  (B)  ANY  TAXES
   36  IMPOSED  BY  A  CITY WITHIN THE AUTHORITY'S SERVICE AREA PURSUANT TO THE
   37  AUTHORIZATION GRANTED BY SECTION TWENTY-B OF THE GENERAL CITY  LAW;  AND
   38  (C)  ANY  TAXES IMPOSED BY A VILLAGE WITHIN THE AUTHORITY'S SERVICE AREA
   39  PURSUANT TO AUTHORIZATION GRANTED BY SECTION 5-530 OF THE VILLAGE LAW.
   40    5. NOTWITHSTANDING THE EXEMPTION IN SUBDIVISION TWO OF  THIS  SECTION,
   41  THE  AUTHORITY SHALL ALSO BE SUBJECT TO THE ASSESSMENTS IMPOSED PURSUANT
   42  TO SECTION EIGHTEEN-A OF THE PUBLIC SERVICE LAW.
   43    6. THE SECURITIES ISSUED BY THE AUTHORITY, AND  THE  INCOME  THEREFROM
   44  SHALL,  AT  ALL TIMES, BE FREE FROM TAXATION, EXCEPT FOR ESTATE AND GIFT
   45  TAXES.
   46    7. NOTHING IN THIS ARTICLE SHALL RELIEVE THE AUTHORITY FROM ITS  OBLI-
   47  GATIONS TO REGISTER FOR SALES TAX PURPOSES, COLLECT STATE OR LOCAL SALES
   48  AND  COMPENSATING  USE  TAXES IMPOSED BY OR PURSUANT TO THE AUTHORITY OF
   49  ARTICLES TWENTY-EIGHT AND TWENTY-NINE OF  THE  TAX  LAW,  AND  OTHERWISE
   50  COMPLY WITH THOSE ARTICLES ON ITS SALE OF PROPERTY OR SERVICES.
   51    S  1021-M.  ACTIONS  AGAINST  THE  AUTHORITY.  1.  ANY ACTION, SUIT OR
   52  PROCEEDING TO WHICH THE AUTHORITY MAY BE A PARTY IN WHICH  ANY  QUESTION
   53  ARISES  AS  TO  THE  VALIDITY OF THIS TITLE OR THE VALUATION OF STOCK OR
   54  ASSETS ACQUIRED BY THE AUTHORITY BY THE EXERCISE OF THE POWER OF EMINENT
   55  DOMAIN SHALL BE PREFERRED OVER ALL OTHER CIVIL CAUSES IN ALL  COURTS  OF
   56  THE STATE, EXCEPT ELECTION MATTERS, AND SHALL BE HEARD AND DETERMINED IN
       S. 2813--C                         14
    1  PREFERENCE  TO ALL OTHER CIVIL BUSINESS PENDING THEREIN, EXCEPT ELECTION
    2  MATTERS, IRRESPECTIVE OF POSITION ON THE CALENDAR.  THE SAME  PREFERENCE
    3  SHALL  BE  GRANTED  UPON  APPLICATION OF COUNSEL TO THE AUTHORITY IN ANY
    4  ACTION OR PROCEEDING QUESTIONING THE VALIDITY OF THIS TITLE OR THE VALU-
    5  ATION  OF  STOCK  OR ASSETS ACQUIRED BY THE AUTHORITY BY THE EXERCISE OF
    6  THE POWER OF EMINENT DOMAIN IN WHICH SUCH  COUNSEL  MAY  BE  ALLOWED  TO
    7  INTERVENE.  THE  VENUE OF ANY SUCH ACTION OR PROCEEDING SHALL BE LAID IN
    8  THE SUPREME COURT PURSUANT TO ARTICLE FIVE OF THE CIVIL PRACTICE LAW AND
    9  RULES.
   10    2. IN THE EVENT ANY PARTY SHALL APPEAL AN AWARD  OF  COMPENSATION  FOR
   11  THE  TAKING BY THE AUTHORITY OF STOCK OR ASSETS, SUCH PARTY SHALL POST A
   12  BOND IN SUCH AMOUNT, IF ANY, AS THE SUPREME COURT SHALL DEEM APPROPRIATE
   13  TO ADEQUATELY PROTECT THE INTERESTS OF THE OTHER  PARTY  UNDER  ALL  THE
   14  CIRCUMSTANCES.
   15    3.  AN ACTION AGAINST THE AUTHORITY FOUNDED ON TORT SHALL BE COMMENCED
   16  IN COMPLIANCE WITH ALL THE REQUIREMENTS OF SECTION FIFTY-E OF THE GENER-
   17  AL MUNICIPAL LAW, EXCEPT THAT AN ACTION AGAINST THE AUTHORITY FOR WRONG-
   18  FUL DEATH SHALL BE COMMENCED IN ACCORDANCE WITH THE PROVISIONS OF  TITLE
   19  ELEVEN OF ARTICLE NINE OF THIS CHAPTER.
   20    S  1021-N. EQUAL EMPLOYMENT OPPORTUNITY. ALL CONTRACTS ENTERED INTO BY
   21  THE AUTHORITY PURSUANT TO THIS TITLE OF WHATEVER NATURE  AND  ALL  DOCU-
   22  MENTS SOLICITING BIDS OR PROPOSALS THEREFOR SHALL CONTAIN OR MAKE REFER-
   23  ENCE TO THE FOLLOWING PROVISION:
   24    THE  CONTRACTOR SHALL NOT DISCRIMINATE AGAINST EMPLOYEES OR APPLICANTS
   25  FOR EMPLOYMENT BECAUSE OF RACE, CREED, COLOR, NATIONAL ORIGIN, SEX, AGE,
   26  DISABILITY OR MARITAL STATUS, AND WILL UNDERTAKE  OR  CONTINUE  EXISTING
   27  PROGRAMS OF AFFIRMATIVE ACTION TO ENSURE THAT MINORITY GROUP PERSONS AND
   28  WOMEN  ARE  AFFORDED  EQUAL  OPPORTUNITY  WITHOUT  DISCRIMINATION.  SUCH
   29  PROGRAMS SHALL INCLUDE, BUT NOT BE LIMITED TO, RECRUITMENT,  EMPLOYMENT,
   30  JOB ASSIGNMENT, PROMOTION, UPGRADING, DEMOTION, TRANSFER, LAYOFF, TERMI-
   31  NATION,  RATES  OF PAY OR OTHER FORMS OF COMPENSATION, AND SELECTION FOR
   32  TRAINING AND RETRAINING, INCLUDING APPRENTICESHIP AND ON-THE-JOB  TRAIN-
   33  ING.
   34    S  1021-O. LIMITATION OF LIABILITY; INDEMNIFICATION. 1. THE DIRECTORS,
   35  OFFICERS AND EMPLOYEES OF THE AUTHORITY, WHILE ACTING WITHIN  THE  SCOPE
   36  OF  THEIR  AUTHORITY  AS  DIRECTORS, OFFICERS OR EMPLOYEES, SHALL NOT BE
   37  SUBJECT TO ANY PERSONAL OR CIVIL LIABILITY RESULTING FROM THE  EXERCISE,
   38  CARRYING  OUT  OR  ADVOCACY  OF ANY OF THE AUTHORITY'S PURPOSES OR POWER
   39  UNLESS THE CONDUCT OF THE DIRECTORS, OFFICERS OR  EMPLOYEES  IS  FINALLY
   40  DETERMINED  BY  A  COURT  OF COMPETENT JURISDICTION TO CONSTITUTE INTEN-
   41  TIONAL WRONGDOING OR RECKLESSNESS.
   42    2. THE PROVISIONS OF SECTION EIGHTEEN OF THE PUBLIC OFFICERS LAW SHALL
   43  APPLY  TO  DIRECTORS,  OFFICERS  AND  EMPLOYEES  OF  THE  AUTHORITY   IN
   44  CONNECTION   WITH  ANY  AND  ALL  CLAIMS,  DEMANDS,  SUITS,  ACTIONS  OR
   45  PROCEEDINGS WHICH MAY BE MADE OR BROUGHT AGAINST ANY OF THEM ARISING OUT
   46  OF ANY DETERMINATIONS MADE OR ACTIONS TAKEN OR OMITTED TO  BE  TAKEN  IN
   47  COMPLIANCE WITH ANY ACTIONS TAKEN PURSUANT TO THE POWERS OF THIS TITLE.
   48    3.  AS  USED  IN  THIS  SECTION,  THE  TERMS "DIRECTOR", "OFFICER" AND
   49  "EMPLOYEE" SHALL INCLUDE A FORMER DIRECTOR, OFFICER OR EMPLOYEE AND  HIS
   50  OR HER ESTATE OR JUDICIALLY APPOINTED PERSONAL REPRESENTATIVE.
   51    4.  NOTHING  IN  THIS SECTION SHALL LIMIT THE OBLIGATIONS OF A "DIREC-
   52  TOR," "OFFICER," OR "EMPLOYEE" OF THE AUTHORITY OR OF  A  SUBSIDIARY  OF
   53  THE  AUTHORITY  AS  A  "PERSON REQUIRED TO COLLECT TAX," AS SUCH TERM IS
   54  DEFINED IN ARTICLE TWENTY-EIGHT OF THE TAX LAW, IF SUCH DIRECTOR,  OFFI-
   55  CER  OR  EMPLOYEE  IS,  OR WAS, UNDER A DUTY TO ACT FOR THE AUTHORITY OR
   56  SUBSIDIARY, OR BOTH, AS THE CASE MAY BE, IN COMPLYING WITH ANY  REQUIRE-
       S. 2813--C                         15
    1  MENT OF ARTICLE TWENTY-EIGHT OR RELATED PROVISION OF ARTICLE TWENTY-NINE
    2  OF THE TAX LAW.
    3    S  1021-P. WEBSITE. THE AUTHORITY SHALL MAKE ACCESSIBLE TO THE PUBLIC,
    4  VIA ITS OFFICIAL OR SHARED INTERNET WEBSITE, DOCUMENTATION PERTAINING TO
    5  ITS MISSION, CURRENT ACTIVITIES, MOST RECENT ANNUAL  FINANCIAL  REPORTS,
    6  CURRENT  YEAR BUDGET AND ITS MOST RECENT INDEPENDENT AUDIT REPORT UNLESS
    7  SUCH INFORMATION IS COVERED BY SUBDIVISION TWO OF  SECTION  EIGHTY-SEVEN
    8  OF THE PUBLIC OFFICERS LAW.
    9    S  1021-Q.  PREVAILING  WAGE.  WHENEVER  THE AUTHORITY ENTERS INTO ANY
   10  CONTRACT, SUBCONTRACT, LEASE, GRANT, BOND, COVENANT OR  OTHER  AGREEMENT
   11  FOR  OR IN CONNECTION WITH ANY CONSTRUCTION, DEMOLITION, RECONSTRUCTION,
   12  EXCAVATION, REHABILITATION, REPAIR, RENOVATION, ALTERATION, OR  IMPROVE-
   13  MENT  PROJECT, SUCH PROJECT SHALL BE DEEMED TO BE A PUBLIC WORKS PROJECT
   14  FOR THE PURPOSES OF ARTICLE EIGHT OF THE  LABOR  LAW,  AND  ALL  OF  THE
   15  PROVISIONS  OF ARTICLE EIGHT OF THE LABOR LAW SHALL BE APPLICABLE TO ALL
   16  THE WORK INVOLVED IN THE CONSTRUCTION, DEMOLITION, RECONSTRUCTION, EXCA-
   17  VATION, REHABILITATION, REPAIR, RENOVATION, ALTERATION,  OR  IMPROVEMENT
   18  OF  SUCH  PROJECT.  FUNDS,  FINANCIAL  ASSISTANCE, OR ANY OTHER BENEFITS
   19  PROVIDED PURSUANT TO THIS ARTICLE  SHALL  NOT  BE  UTILIZED  FOR  OR  IN
   20  CONNECTION  WITH  THE  CONSTRUCTION,  DEMOLITION,  RECONSTRUCTION, EXCA-
   21  VATION, REHABILITATION, REPAIR, RENOVATION, ALTERATION,  OR  IMPROVEMENT
   22  OF ANY PROJECT TO WHICH THE PROVISIONS OF ARTICLE EIGHT OF THE LABOR LAW
   23  ARE NOT APPLICABLE.
   24    S  1021-R.  PERIODIC  REVIEW BY LEGISLATURE. BEGINNING IN THE YEAR TWO
   25  THOUSAND FIFTEEN, AND NOT MORE THAN  EVERY  TEN  YEARS  THEREAFTER,  THE
   26  LEGISLATURE  OF  THE  STATE  OF  NEW  YORK SHALL CONDUCT A COMPREHENSIVE
   27  REVIEW, OF THE STRUCTURE, ACTIVITIES AND OPERATIONS OF THE NCPA, AND THE
   28  NCPA SHALL PROVIDE SUCH RECORDS, REPORTS AND TESTIMONY AS  THE  LEGISLA-
   29  TURE MAY REQUEST TO ASSIST IN THE CONDUCT OF THIS REVIEW.
   30    S  1021-S.  SEVERABILITY.  THE PROVISIONS OF THIS TITLE ARE SEVERABLE,
   31  AND IF ANY CLAUSE, SENTENCE, PARAGRAPH, ACTION OR PART OF THIS TITLE, OR
   32  THE APPLICATION THEREOF TO ANY PERSON OR CIRCUMSTANCE, SHALL BE ADJUDGED
   33  BY ANY COURT OF COMPETENT JURISDICTION TO BE INVALID  OR  UNENFORCEABLE,
   34  SUCH  JUDGMENT  SHALL  NOT AFFECT, IMPAIR OR INVALIDATE THE REMAINDER OF
   35  THIS TITLE OR THE APPLICATION OF SUCH PROVISION TO ANY OTHER  PERSON  OR
   36  CIRCUMSTANCE,  BUT  SHALL  BE  CONFINED  IN ITS OPERATION TO THE CLAUSE,
   37  SENTENCE, PARAGRAPH, SECTION OR PART THEREOF OR PERSON  OR  CIRCUMSTANCE
   38  DIRECTLY  INVOLVED  IN THE CONTROVERSY IN WHICH SUCH JUDGMENT SHALL HAVE
   39  BEEN RENDERED.
   40    S 2. Subdivision 1 of section 51 of  the  public  authorities  law  is
   41  amended by adding a new paragraph n to read as follows:
   42    N. NORTH COUNTRY POWER AUTHORITY
   43    S 3. This act shall take effect immediately.
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