Bill Text: NY S04079 | 2009-2010 | General Assembly | Introduced
Bill Title: Makes provisions for construction and financing of facilities for the New York state library association by the dormitory authority; permits payment or assignment of public moneys to the authority; limits bond amount to five million dollars; provides for the repeal of such provisions upon the expiration thereof.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2010-04-07 - REPORTED AND COMMITTED TO FINANCE [S04079 Detail]
Download: New_York-2009-S04079-Introduced.html
S T A T E O F N E W Y O R K ________________________________________________________________________ 4079 2009-2010 Regular Sessions I N S E N A T E April 9, 2009 ___________ Introduced by Sen. AUBERTINE -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend the public authorities law, in relation to the construction and financing of facilities by the dormitory authority for the New York Library Association; and providing for the repeal of such provisions upon expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: 1 Section 1. Paragraph (b) of subdivision 2 of section 1676 of the 2 public authorities law is amended by adding a new undesignated paragraph 3 to read as follows: 4 THE NON-PROFIT MEMBERS OF THE NEW YORK LIBRARY ASSOCIATION, INC. FOR 5 THE ACQUISITION, FINANCING, CONSTRUCTION, RECONSTRUCTION, RENOVATION, 6 DEVELOPMENT, IMPROVEMENT, EXPANSION AND EQUIPPING OF LIBRARY FACILITIES. 7 S 2. Subdivision 1 of section 1680 of the public authorities law is 8 amended by adding two new undesignated paragraphs to read as follows: 9 THE NON-PROFIT MEMBERS OF THE NEW YORK LIBRARY ASSOCIATION, INC. FOR 10 THE ACQUISITION, FINANCING, REFINANCING, CONSTRUCTION, RECONSTRUCTION, 11 RENOVATION, DEVELOPMENT, IMPROVEMENT, EXPANSION AND EQUIPPING OF LIBRARY 12 FACILITIES IN THE STATE OF NEW YORK. THE PRINCIPAL AMOUNT OF BONDS 13 ISSUED BY THE DORMITORY AUTHORITY FOR THE COSTS OF EACH PROJECT AUTHOR- 14 IZED HEREUNDER SHALL NOT EXCEED FIVE MILLION DOLLARS, EXCEPT FOR BONDS 15 ISSUED TO REFUND OR REFINANCE BONDS PREVIOUSLY ISSUED FOR SUCH PROJECTS. 16 NOTWITHSTANDING ANY OTHER PROVISION OF LAW, EACH OF THE NON-PROFIT 17 MEMBERS OF THE NEW YORK LIBRARY ASSOCIATION, INC. SUBJECT TO THE 18 PROVISIONS OF THIS CHAPTER, INCLUDING ASSOCIATION AND PUBLIC LIBRARIES 19 AS DEFINED IN SECTION TWO HUNDRED FIFTY-THREE OF THE EDUCATION LAW, 20 SHALL HAVE FULL POWER AND AUTHORITY TO ASSIGN AND PLEDGE TO THE DORMITO- 21 RY AUTHORITY, ANY AND ALL PUBLIC FUNDS TO BE APPORTIONED OR OTHERWISE 22 MADE PAYABLE BY THE STATE, A POLITICAL SUBDIVISION, AS DEFINED IN EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD03307-01-9 S. 4079 2 1 SECTION ONE HUNDRED OF THE GENERAL MUNICIPAL LAW, OR ANY LIBRARY 2 DISTRICT IN THE STATE IN AN AMOUNT SUFFICIENT TO MAKE ALL PAYMENTS 3 REQUIRED TO BE MADE PURSUANT TO ANY LEASE, SUBLEASE OR OTHER AGREEMENT 4 ENTERED INTO BETWEEN THE NON-PROFIT MEMBER AND THE DORMITORY AUTHORITY. 5 ALL STATE AND LOCAL OFFICERS ARE HEREBY AUTHORIZED TO PAY ALL SUCH FUNDS 6 SO ASSIGNED AND PLEDGED TO THE DORMITORY AUTHORITY OR, UPON DIRECTION OF 7 THE DORMITORY AUTHORITY, TO ANY TRUSTEE OF ANY DORMITORY AUTHORITY BOND 8 OR NOTE ISSUE, PURSUANT TO A CERTIFICATE FILED WITH ANY SUCH STATE OR 9 LOCAL OFFICER BY THE DORMITORY AUTHORITY PURSUANT TO THE PROVISIONS OF 10 THIS SECTION. 11 S 3. Any contracts entered into by the dormitory authority pursuant to 12 this act shall be deemed state contracts within the meaning of that term 13 as set forth in article 15-A of the executive law, and the authority 14 shall be deemed, for the purposes of this act, a contracting agency as 15 that term is used in such article. 16 S 4. The expiration and repeal of sections one, two and three of this 17 act shall not affect or impair in any manner any bonds issued, or any 18 loan made to any borrower, pursuant to the provisions of this act prior 19 to the expiration of such sections. 20 S 5. This act shall take effect immediately and shall expire and be 21 deemed repealed December 31, 2015.