Bill Text: NY S08956 | 2021-2022 | General Assembly | Amended

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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: (Passed) 2022-12-23 - SIGNED CHAP.781 [S08956 Detail]

Download: New_York-2021-S08956-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         8956--C

                    IN SENATE

                                       May 2, 2022
                                       ___________

        Introduced  by  Sen. MANNION -- read twice and ordered printed, and when
          printed to be committed to the Committee on Corporations,  Authorities
          and  Commissions -- reported favorably from said committee and commit-
          ted to the Committee on Finance -- committee discharged, bill amended,
          ordered reprinted as amended and  recommitted  to  said  committee  --
          committee  discharged,  bill amended, ordered reprinted as amended and
          recommitted to said committee -- committee discharged,  bill  amended,
          ordered reprinted as amended and recommitted to said committee

        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

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13333-10-2
        S. 8956--C                          2

     1  sixteen.  The  first  member  appointed by the town board of the town of
     2  Salina, Cicero or Clay, or by the board of education of the North  Syra-
     3  cuse  Central  School  District, shall be appointed by the town board of
     4  the  town  of  Cicero and shall serve for a term ending December thirty-
     5  first, two thousand thirteen. Following the expiration of such  member's
     6  [one]  two  year  term,  the  subsequently  appointed  member  shall  be
     7  appointed by the town board of the town of Salina.  Following the  expi-
     8  ration  of such member's [one] two year term, the subsequently appointed
     9  member shall be appointed by the town board of the town of Clay. Follow-
    10  ing the expiration of such member's [one] two year term, the subsequent-
    11  ly appointed member shall be appointed by the board of education of  the
    12  North  Syracuse  Central  School  District.  Thereafter, each subsequent
    13  member shall be appointed alternately by  each  town  or  the  board  of
    14  education  in  the  same  order as the initial appointments.   The mayor
    15  shall designate one of the eleven members to serve as chairperson of the
    16  authority. With the exception of the member appointed by  the  board  of
    17  education  of  the North Syracuse Central School District or by the town
    18  board of the town of Salina, Cicero or Clay, who shall serve a [one] two
    19  year term, and those initial appointees whose terms are three  years  or
    20  less, each member shall serve a term of four years.
    21    2.  All  members  shall continue to hold office until their successors
    22  are appointed and qualify.  Provided that upon a new mayor of  the  city
    23  taking  office,  the  incoming mayor may replace the city appointee with
    24  the shortest remaining term with a new  appointee.  Vacancies  shall  be
    25  filled  in  the  manner  provided  for  original appointment. Vacancies,
    26  occurring otherwise than by expiration  of  term  of  office,  shall  be
    27  filled  for the unexpired terms.  Members may be removed from office for
    28  the same reasons and in the same manner as may be provided by  [law  for
    29  the  removal of officers of the city] section twenty-eight hundred twen-
    30  ty-seven of this chapter. The members of the authority shall receive  no
    31  compensation  for  their  services but shall be reimbursed for all their
    32  actual and necessary expenses incurred in connection with  the  carrying
    33  out  of the purposes of this title. The powers of the authority shall be
    34  vested in and be exercised by the members of the authority at a  meeting
    35  duly  called  and  held  and  a majority of directors shall constitute a
    36  quorum.  No action shall be taken except pursuant to the favorable  vote
    37  of  at  least  a  majority  of members. The members of the authority may
    38  delegate to one or more of its members, officers,  agents  or  employees
    39  such powers and duties as it may deem proper.
    40    6.  All  members  of the authority will be required to comply with the
    41  [city of Syracuse code of ethics] provisions  of  this  chapter  and  to
    42  complete  all  disclosure  forms  required by [said code of ethics] this
    43  chapter.
    44    § 2.  Section 2799-iii of the public  authorities  law,  as  added  by
    45  chapter 463 of the laws of 2011, is amended to read as follows:
    46    §  2799-iii.  City  [approval]  notice  required.  Notwithstanding any
    47  inconsistent provision of this title, no  project  having  an  aggregate
    48  cost  exceeding  ten  million  dollars, including but not limited to the
    49  acquisition of real property by the authority or the  expansion  of  the
    50  authority's  aviation  facilities,  may  be  undertaken by the authority
    51  unless the authority has provided notice of such project [is approved by
    52  ordinance of] to the Syracuse common council [adopted by a majority vote
    53  and approved by] and the mayor.
    54    § 3. Subdivision 1 of section 2799-jjj of the public authorities  law,
    55  as  added  by  chapter  463  of  the laws of 2011, is amended to read as
    56  follows:
        S. 8956--C                          3

     1    1. The authority shall have the power and is  hereby  authorized  from
     2  time  to time to issue bonds, notes or other obligations to pay the cost
     3  of any project or for any other corporate purpose, including the  estab-
     4  lishment  of  reserves to secure the bonds, the payment of principal of,
     5  premium, if any, and interest on the bonds and the payment of incidental
     6  expenses  in  connection  therewith.   The aggregate principal amount of
     7  such bonds, notes or other obligations  shall  not  exceed  [two]  three
     8  hundred   million  dollars  [($200,000,000)]  ($300,000,000),  excluding
     9  bonds, notes or other obligations issued to refund  or  otherwise  repay
    10  bonds,  notes or other obligations theretofore issued for such purposes;
    11  provided, however, that upon any such refunding or repayment  the  total
    12  aggregate  principal  amount  of outstanding bonds, notes or other obli-
    13  gations  may  be  greater  than  [two]  three  hundred  million  dollars
    14  [($200,000,000)]  ($300,000,000) only if the present value of the aggre-
    15  gate debt service of their funding or repayment bonds,  notes  or  other
    16  obligations  to  be  issued  shall  not  exceed the present value of the
    17  aggregate debt service of the bonds, notes or other obligations so to be
    18  refunded or repaid.  For purposes of this section, the present values of
    19  the aggregate debt service of the refunding or repayment bonds, notes or
    20  other obligations and of the aggregate debt service of the bonds,  notes
    21  or  other  obligations  so  refunded  or  repaid, shall be calculated by
    22  utilizing the effective interest rate  of  the  refunding  or  repayment
    23  bonds,  notes  or other obligations, which shall be that rate arrived at
    24  by doubling the semi-annual  interest  rate  (compounded  semi-annually)
    25  necessary  to  discount  the  debt  service payments on the refunding or
    26  repayment bonds, notes or other obligations from the payment dates ther-
    27  eof to the date of issue of the refunding or repayment bonds,  notes  or
    28  other  obligations  and  to  the  price  bid including estimated accrued
    29  interest or proceeds  received  by  the  authority  including  estimated
    30  accrued  interest  from the sale thereof. The authority shall have power
    31  and is hereby authorized to enter into such agreements and perform  such
    32  acts  as  may  be  required  under any applicable federal legislation to
    33  secure a federal guarantee of any bonds.
    34    § 4. This act shall take effect immediately.