Senate Bill S3693

2009-2010 Legislative Session

Provides for the financing and construction of capital facilities for certain not-for-profit corporations affiliated with the state university of New York

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Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 06, 2010	referred to corporations, authorities and commissions
Jun 19, 2009	print number 3693a
Jun 19, 2009	amend (t) and recommit to finance
May 13, 2009	reported and committed to finance
Mar 27, 2009	referred to corporations, authorities and commissions

Bill Amendments

Original

A (Active)

co-Sponsors

2009-S3693 - Details

Current Committee:: Senate Corporations, Authorities And Commissions
Law Section:: Public Authorities Law
Laws Affected:: Amd §§1676 & 1680, Pub Auth L

2009-S3693 - Summary

Provides for the financing and construction of capital facilities for certain not-for-profit corporations affiliated with the state university of New York.

2009-S3693 - Sponsor Memo

                                 BILL NUMBER:  S3693

 TITLE OF BILL :

An act to amend the public authorities law, in relation to providing
for the financing and construction of capital facilities for certain
not-for-profit corporations affiliated with the state university of
New York


 PURPOSE OF BILL :

This bill would authorize the Dormitory Authority of the State of New
York ("DASNY") to provide financing and construction services to any
not-for-profit corporation organized by officers, employees, alumni or
students of the State University of New York ("SUNY") for the purpose
of providing housing facilities, academic and administration
buildings, libraries, laboratories, classrooms or any other facility,
building or structure essential, necessary or useful in furthering the
academic, cultural, health or research programs of SUNY.

 SUMMARY OF PROVISIONS :

Sections 1 and 2 of the bill would amend the definition of "dormitory"
and "educational institution", respectively, to include any
not-for-profit corporation organized by officers, employees, alumni or

students of SUNY qualified as tax-exempt under the Internal Revenue
Code for the purpose of providing housing or other facilities,
including academic and administration buildings, libraries,
laboratories, classrooms or any other facility, building or structure
essential, necessary or useful in furthering the academic, cultural,
health or research programs of SUNY. DASNY, however, would not be
permitted to undertake any project pursuant to this authorization
unless SUNY consents to the project. The bill also would provide that
any work undertaken by DASNY pursuant to this authorization would be
public work under the Labor Law and subject to Minority and
Women-owned business provisions under Article 15-A of the Executive
Law.

These sections further authorize the not-for-profit corporation, SUNY
and the State University Construction Fund to enter into agreements
with DASNY and take such actions as are necessary to: (a) undertake
the financing of any facility for such not-for-profit corporation,
including, but not limited to, providing for the sale, lease, transfer
or conveyance of state-owned property under the jurisdiction of the
State University to the not-for-profit entity; and (b) grant DASNY a
lien on any revenues, property or moneys pledged by the not-for-profit
corporation to DASNY to secure the payment of all amounts owed to
DASNY. It further authorizes and requires state officers to pay any
funds that are so assigned and pledged to DASNY or, upon the direction
of DASNY, to any trustee of any dormitory authority bond or note
issue.

Section 3 of the bill provides for an immediate effective date.

 EXISTING LAW :

DASNY is currently able to provide construction and financing services
to SUNY but not to not - for-profit corporations organized for the
benefit of SUNY.

 PRIOR LEGISLATIVE HISTORY :

A similar bill (S.5188) was introduced at the request of SUNY during
the 2005-2006 Session.

 STATEMENT IN SUPPORT :

Although DASNY is currently able to provide construction and financing
services directly to SUNY through DASNY's existing programs, some SUNY
colleges and universities have identified situations when it would be
in their best interests to undertake certain projects through legally
separate not-for-profit entities established for these purposes. Among
the benefits of financing through these separate entities would be the
ability to utilize revenues and assets of the not-for-profit
corporation to secure any debt issued to finance the cost of the
project. This bill would provide DASNY with the flexibility to meet
these needs.

The New York State Commission on Higher Education's Final Report
recognized the need to upgrade and enhance SUNY facilities. As stated
in the Report: "For New York State's public universities to remain
competitive with those in other key states, additional capital
investment is required. Compared to public systems in peer states, New
York ranks fifth in overall capital investment for the most recent
five-year period available (2001-01 through 2005-06), and sixth on a
per FTE basis...It is important to identify innovative financing
structures...or otherwise provide financial support for investment in
priority needs and initiatives (e.g., public-private partnerships)."

 BUDGET IMPLICATIONS :

No adverse impact.

 EFFECTIVE DATE :
This act shall take effect immediately.

2009-S3693 - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  3693

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             March 27, 2009
                               ___________

Introduced by Sen. PERKINS -- (at request of the Dormitory Authority) --
  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 providing for
  the financing and construction of capital facilities for certain  not-
  for-profit  corporations  affiliated  with the state university of New
  York

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Paragraph  (b)  of  subdivision  2 of section 1676 of the
public authorities law is amended by adding a new undesignated paragraph
to read as follows:
  ANY ENTITY ORGANIZED BY OFFICERS, EMPLOYEES, ALUMNI OR STUDENTS OF THE
STATE UNIVERSITY OF NEW YORK TO SUPPORT THE STATE UNIVERSITY AND  QUALI-
FIED AS AN ORGANIZATION UNDER THE UNITED STATES INTERNAL REVENUE CODE AS
AS  EXEMPT  FROM INCOME TAX FOR THE FINANCING, REFINANCING, ACQUISITION,
DESIGN,  CONSTRUCTION,  RECONSTRUCTION,   REHABILITATION,   IMPROVEMENT,
FURNISHING  AND  EQUIPPING  OF ANY HOUSING UNIT FOR THE USE OF STUDENTS,
FACULTY, STAFF AND THEIR FAMILIES OR  ANY  ACADEMIC  BUILDING,  ADMINIS-
TRATION  BUILDING,  LIBRARY,  LABORATORY,  CLASSROOM, HEALTH FACILITY OR
OTHER FACILITY, BUILDING OR STRUCTURE ESSENTIAL, NECESSARY OR USEFUL  IN
FURTHERING  THE  ACADEMIC,  CULTURAL, HEALTH OR RESEARCH PROGRAMS OF THE
STATE UNIVERSITY OF NEW YORK, INCLUDING ALL NECESSARY AND USUAL  ATTEND-
ANT AND RELATED FACILITIES AND EQUIPMENT.
  S  2.  Subdivision  1 of section 1680 of the public authorities law is
amended by adding a new undesignated paragraph to read as follows:
  ANY ENTITY ORGANIZED BY OFFICERS, EMPLOYEES, ALUMNI OR STUDENTS OF THE
STATE UNIVERSITY OF NEW YORK TO SUPPORT THE STATE UNIVERSITY AND  QUALI-
FIED AS AN ORGANIZATION UNDER THE UNITED STATES INTERNAL REVENUE CODE AS
EXEMPT  FROM  INCOME  TAX  FOR  THE FINANCING, REFINANCING, ACQUISITION,
DESIGN,  CONSTRUCTION,  RECONSTRUCTION,   REHABILITATION,   IMPROVEMENT,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09048-02-9

S. 3693                             2

FURNISHING  AND  EQUIPPING  OF ANY HOUSING UNIT FOR THE USE OF STUDENTS,
FACULTY, STAFF AND THEIR FAMILIES OR  ANY  ACADEMIC  BUILDING,  ADMINIS-
TRATION BUILDING, LIBRARY, LABORATORY, CLASSROOM, HEALTH FACILITY OR ANY
OTHER  BUILDING, FACILITY OR STRUCTURE ESSENTIAL, NECESSARY OR USEFUL IN
FURTHERING THE ACADEMIC, CULTURAL, HEALTH OR RESEARCH PROGRAMS  FOR  THE
STATE  UNIVERSITY OF NEW YORK, INCLUDING ALL NECESSARY AND USUAL ATTEND-
ANT AND RELATED FACILITIES AND EQUIPMENT; PROVIDED,  HOWEVER,  THAT  ANY
PROJECT PROPOSED TO BE UNDERTAKEN PURSUANT TO THIS PARAGRAPH SHALL FIRST
BE  APPROVED  BY THE STATE UNIVERSITY OF THE STATE OF NEW YORK; PROVIDED
FURTHER AND NOTWITHSTANDING ANY PROVISION OF LAW TO THE  CONTRARY,  THAT
ANY SUCH NOT-FOR-PROFIT ENTITY, THE STATE UNIVERSITY OF THE STATE OF NEW
YORK AND THE STATE UNIVERSITY CONSTRUCTION FUND ARE HEREBY AUTHORIZED TO
TAKE  SUCH  ACTIONS AND TO ENTER INTO SUCH AGREEMENTS WITH THE DORMITORY
AUTHORITY AS ARE NECESSARY TO: (I) UNDERTAKE THE FINANCING, REFINANCING,
ACQUISITION,  DESIGN,  CONSTRUCTION,   RECONSTRUCTION,   REHABILITATION,
IMPROVEMENT,  FURNISHING  AND  EQUIPPING  OF ANY FACILITY AS PROVIDED IN
THIS PARAGRAPH, INCLUDING, BUT NOT LIMITED TO, PROVIDING FOR  THE  SALE,
LEASE,  TRANSFER  OR CONVEYANCE OF STATE-OWNED PROPERTY UNDER THE JURIS-
DICTION OF THE STATE UNIVERSITY TO THE  NOT-FOR-PROFIT  ENTITY  OR  (II)
GRANT  THE AUTHORITY A LIEN ON ANY REVENUES OR PROPERTY OR ANY MONEYS TO
BE RECEIVED BY THE NOT-FOR-PROFIT ENTITY TO THE EXTENT THAT SUCH  REVEN-
UES,  PROPERTY  OR  MONEYS  ARE  PLEDGED  BY THE ENTITY TO THE DORMITORY
AUTHORITY TO SECURE THE PAYMENT OF ALL AMOUNTS OWED TO THE AUTHORITY  ON
ACCOUNT  OF  ANY PROJECT UNDERTAKEN PURSUANT TO THIS PARAGRAPH, PROVIDED
FURTHER, THAT ANY PROJECT UNDERTAKEN BY THE DORMITORY AUTHORITY PURSUANT
TO THIS PARAGRAPH SHALL CONSTITUTE A PUBLIC WORK  FOR  PURPOSES  OF  THE
LABOR  LAW AND SHALL BE SUBJECT TO THE REQUIREMENTS OF ARTICLE FIFTEEN-A
OF THE EXECUTIVE LAW.   ALL STATE OFFICERS  ARE  HEREBY  AUTHORIZED  AND
REQUIRED  TO PAY ALL SUCH FUNDS SO ASSIGNED AND PLEDGED TO THE DORMITORY
AUTHORITY OR, UPON THE DIRECTION OF  THE  DORMITORY  AUTHORITY,  TO  ANY
TRUSTEE OF ANY DORMITORY AUTHORITY BOND OR NOTE ISSUE. NEITHER THE STATE
OF  NEW  YORK, THE STATE UNIVERSITY OF NEW YORK NOR THE STATE UNIVERSITY
CONSTRUCTION FUND SHALL TAKE ANY ACTION IN SUCH MANNER AS TO  IMPAIR  OR
DIMINISH  THE  RIGHTS AND REMEDIES OF THE AUTHORITY PURSUANT TO ANY SUCH
PLEDGE AND ASSIGNMENT AND ANY LIEN OR OTHER  SECURITY  INTEREST  CREATED
PURSUANT TO THIS PARAGRAPH.
  S 3. This act shall take effect immediately.

co-Sponsors

2009-S3693A (ACTIVE) - Details

Current Committee:: Senate Corporations, Authorities And Commissions
Law Section:: Public Authorities Law
Laws Affected:: Amd §§1676 & 1680, Pub Auth L

2009-S3693A (ACTIVE) - Summary

Provides for the financing and construction of capital facilities for certain not-for-profit corporations affiliated with the state university of New York.

2009-S3693A (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S3693A

 TITLE OF BILL :  An act to amend the public authorities law, in
relation to providing for the financing and construction of capital
facilities for certain not-for-profit entities affiliated with the
state university of New York

 PURPOSE OF THE BILL : To authorize the Dormitory Authority of the
State of New York ("DASNY") to provide financing and construction
services to any not-for-profit entity organized by officers,
employees, alumni or students of the State University of New York
("SUNY"), other than any entity which is organized exclusively by
students of the State University, for the purpose of providing one or
more facilities for the State University at Buffalo ("UB") on its
campuses in the Town of Amherst and City of Buffalo, respectively, and
student housing facilities in the City of Syracuse for use by students
attending the SUNY College of Environmental Science and Forestry.

 SUMMARY OF PROVISIONS : Sections one and two of the bill would amend
the definition of "dormitory" and "educational institution",
respectively, to include any not-for-profit entity organized by
officers, employees, alumni or students of SUNY, other than any entity
which is organized exclusively by students of the State University,
and qualified as tax-exempt under the Internal Revenue Code for the
purpose of providing housing and other facilities that have been
specifically authorized by statutory enactment as a "project." In

addition, the consent of SUNY would also be required for any project
permitted to be undertaken pursuant to this legislation. The bill also
specifically provides that no agreement providing for the financing,
refinancing, acquisition, design, construction, reconstruction,
rehabilitation, improvement, furnishing and equipping of any project
pursuant to this authorization shall provide for the operation and
maintenance of such project after its completion, by an entity other
than the State University of New York.

The types of projects generally contemplated by this bill include
academic and administration buildings, libraries, laboratories,
classrooms or any other facility, building or structure essential,
necessary or useful in furthering the academic, cultural, health or
research programs of SUNY. However, the only projects currently
authorized under this bill are: (1) one or more facilities to be
located on or adjacent to one or more campuses of the State University
of Buffalo in the Town of Amherst and the City of Buffalo for any of
the foregoing purposes, including, but not limited to, a hotel,
conference center, retail facilities and certain other facilities to.
provide educational, training and economic opportunities to residents
of Town of Amherst and the City of Buffalo; and (2) student housing
facilities in the City of Syracuse for use by students attending the
SUNY College of Environmental Science and Forestry. The housing
facilities for the College of Environmental Science and Forestry would
not be located on the College's campus but rather, would be located on
land adjacent to the campus.

In connection with authorized projects, this bill further provides
that the not-for-profit entity, SUNY and the State University
Construction Fund may enter into agreements with DASNY and take such
actions as are necessary to: (a) undertake the financing of any
facility for such not-for-profit entity, including, but not limited
to, providing for the sale; lease, transfer or conveyance of
state-owned property under the jurisdiction of the State University to
the not-for-profit entity; and (b) grant DASNY a lien on any revenues,
property or moneys pledged by the not-for-profit corporation to DASNY
to secure the payment of all amounts owed to DASNY. It further
authorizes and requires state officers to pay any funds that are so
assigned and pledged to DASNY or, upon the direction of the dormitory

authority, to any trustee of any dormitory authority bond or note
issue.

 EXISTING LAW : DASNY is currently able to provide construction and
financing services to SUNY but not to not-for-profit corporations
organized for the benefit of SUNY.

 PRIOR LEGISLATIVE HISTORY : None

 STATEMENT IN SUPPORT : Although DASNY is currently able to provide
construction and financing services directly to SUNY through DASNY's
existing programs, some SUNY colleges and universities have identified
situations when it would be in their best interests to undertake
certain projects through legally separate not-for-profit entities
established for these purposes. Among the benefits of financing
through these separate entities would be the ability to utilize
revenues and assets of the not-for-profit entity to secure any debt
issued to finance the cost of the project. This bill would provide
DASNY with the flexibility to meet these needs for any project
specifically authorized by statutory enactment.

The New York State Commission on Higher Education's Final Report
recognized the need to upgrade and enhance SUNY facilities. As stated
in the Report: "For New York State's public universities to remain
competitive with those in other key states, additional capital
investment is required. Compared to public systems in peer states, New
York ranks fifth in overall capital investment for the most recent
five-year period available (2000-01 through 2005-06), and sixth on a
per FTE basis...It is important to identify innovative financing
structures ....or otherwise provide financial support for investment
in priority needs and initiatives (e.g., public-private
partnerships)."

 BUDGET IMPLICATIONS : This bill would have positive budget
implications for the State, in so far as it would reduce the amount of
State supported debt that would otherwise be required to finance
capital improvements for SUNY.

 EFFECTIVE DATE : This act shall take effect immediately.

2009-S3693A (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 3693--A

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             March 27, 2009
                               ___________

Introduced  by  Sens.  PERKINS, THOMPSON -- (at request of the Dormitory
  Authority) -- read twice and ordered printed, and when printed  to  be
  committed  to  the  Committee on Corporations, Authorities and Commis-
  sions -- reported favorably from said committee and committed  to  the
  Committee  on  Finance  -- committee discharged, bill amended, ordered
  reprinted as amended and recommitted to said committee

AN ACT to amend the public authorities law, in relation to providing for
  the financing and construction of capital facilities for certain  not-
  for-profit entities affiliated with the state university of New York

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph (b) of subdivision  2  of  section  1676  of  the
public authorities law is amended by adding a new undesignated paragraph
to read as follows:
  FOR  THE PURPOSES OF ANY PROJECT SPECIFICALLY ENUMERATED IN THIS PARA-
GRAPH, ANY ENTITY WHICH IS ORGANIZED BY OFFICERS, EMPLOYEES,  ALUMNI  OR
STUDENTS  OF  THE  STATE  UNIVERSITY  OF  NEW  YORK TO SUPPORT THE STATE
UNIVERSITY AND WHICH IS QUALIFIED AS AN ORGANIZATION  UNDER  THE  UNITED
STATES  INTERNAL  REVENUE CODE AS EXEMPT FROM INCOME TAX, OTHER THAN ANY
ENTITY WHICH IS ORGANIZED EXCLUSIVELY BY STUDENTS OF THE STATE UNIVERSI-
TY, FOR THE FINANCING, REFINANCING, ACQUISITION,  DESIGN,  CONSTRUCTION,
RECONSTRUCTION, REHABILITATION, IMPROVEMENT, FURNISHING AND EQUIPPING OF
ANY HOUSING UNIT FOR THE USE OF STUDENTS, FACULTY, STAFF AND THEIR FAMI-
LIES OR ANY ACADEMIC BUILDING, ADMINISTRATION BUILDING, LIBRARY, LABORA-
TORY,  CLASSROOM,  HEALTH FACILITY OR OTHER FACILITY, BUILDING OR STRUC-
TURE  ESSENTIAL,  NECESSARY  OR  USEFUL  IN  FURTHERING  THE   ACADEMIC,
CULTURAL,  HEALTH  OR  RESEARCH  PROGRAMS OF THE STATE UNIVERSITY OF NEW
YORK, INCLUDING ALL NECESSARY AND USUAL ATTENDANT AND RELATED FACILITIES
AND EQUIPMENT.  FOR PURPOSES OF THIS  PARAGRAPH,  "PROJECT"  SHALL  MEAN
ONLY THE FOLLOWING:  ONE OR MORE FACILITIES TO BE LOCATED ON OR ADJACENT
TO  ONE  OR MORE CAMPUSES OF THE STATE UNIVERSITY OF BUFFALO IN THE TOWN

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09048-05-9

S. 3693--A                          2

OF AMHERST AND THE CITY OF BUFFALO FOR ANY OF  THE  FOREGOING  PURPOSES,
INCLUDING, BUT NOT LIMITED TO, A HOTEL, CONFERENCE CENTER, RETAIL FACIL-
ITIES  AND CERTAIN OTHER FACILITIES TO PROVIDE EDUCATIONAL, TRAINING AND
ECONOMIC  OPPORTUNITIES TO RESIDENTS OF THE TOWN OF AMHERST AND THE CITY
OF BUFFALO; AND, STUDENT HOUSING FACILITIES IN THE CITY OF SYRACUSE  FOR
USE  BY  STUDENTS  ATTENDING  THE  COLLEGE  OF ENVIRONMENTAL SCIENCE AND
FORESTRY.
  S 2. Subdivision 1 of section 1680 of the public  authorities  law  is
amended by adding a new undesignated paragraph to read as follows:
  FOR  THE PURPOSES OF ANY PROJECT SPECIFICALLY ENUMERATED IN THIS PARA-
GRAPH, ANY ENTITY WHICH IS ORGANIZED BY OFFICERS, EMPLOYEES,  ALUMNI  OR
STUDENTS  OF  THE  STATE  UNIVERSITY  OF  NEW  YORK TO SUPPORT THE STATE
UNIVERSITY AND WHICH IS QUALIFIED AS AN ORGANIZATION  UNDER  THE  UNITED
STATES  INTERNAL  REVENUE CODE AS EXEMPT FROM INCOME TAX, OTHER THAN ANY
ENTITY WHICH IS ORGANIZED EXCLUSIVELY BY STUDENTS OF THE STATE UNIVERSI-
TY, FOR THE FINANCING, REFINANCING, ACQUISITION,  DESIGN,  CONSTRUCTION,
RECONSTRUCTION, REHABILITATION, IMPROVEMENT, FURNISHING AND EQUIPPING OF
ANY HOUSING UNIT FOR THE USE OF STUDENTS, FACULTY, STAFF AND THEIR FAMI-
LIES OR ANY ACADEMIC BUILDING, ADMINISTRATION BUILDING, LIBRARY, LABORA-
TORY,  CLASSROOM,  HEALTH  FACILITY  OR  ANY OTHER BUILDING, FACILITY OR
STRUCTURE ESSENTIAL, NECESSARY OR USEFUL  IN  FURTHERING  THE  ACADEMIC,
CULTURAL,  HEALTH  OR  RESEARCH PROGRAMS FOR THE STATE UNIVERSITY OF NEW
YORK, INCLUDING ALL NECESSARY AND USUAL ATTENDANT AND RELATED FACILITIES
AND EQUIPMENT. FOR PURPOSES OF THIS PARAGRAPH, "PROJECT" SHALL MEAN ONLY
THE FOLLOWING: ONE OR MORE FACILITIES TO BE LOCATED ON  OR  ADJACENT  TO
ONE  OR  MORE CAMPUSES OF THE STATE UNIVERSITY OF BUFFALO IN THE TOWN OF
AMHERST AND THE CITY OF BUFFALO  FOR  ANY  OF  THE  FOREGOING  PURPOSES,
INCLUDING, BUT NOT LIMITED TO, A HOTEL, CONFERENCE CENTER, RETAIL FACIL-
ITIES  AND CERTAIN OTHER FACILITIES TO PROVIDE EDUCATIONAL, TRAINING AND
ECONOMIC OPPORTUNITIES TO RESIDENTS OF THE TOWN OF AMHERST AND THE  CITY
OF  BUFFALO; AND, STUDENT HOUSING FACILITIES IN THE CITY OF SYRACUSE FOR
USE BY STUDENTS ATTENDING  THE  COLLEGE  OF  ENVIRONMENTAL  SCIENCE  AND
FORESTRY;  PROVIDED, HOWEVER, THAT ANY PROJECT PROPOSED TO BE UNDERTAKEN
PURSUANT TO THIS PARAGRAPH SHALL FIRST BE APPROVED BY THE STATE  UNIVER-
SITY  OF THE STATE OF NEW YORK; PROVIDED FURTHER AND NOTWITHSTANDING ANY
PROVISION OF LAW TO THE CONTRARY, THAT ANY SUCH  NOT-FOR-PROFIT  ENTITY,
THE  STATE  UNIVERSITY OF THE STATE OF NEW YORK AND THE STATE UNIVERSITY
CONSTRUCTION FUND ARE HEREBY AUTHORIZED TO  TAKE  SUCH  ACTIONS  AND  TO
ENTER INTO SUCH AGREEMENTS WITH THE DORMITORY AUTHORITY AS ARE NECESSARY
TO:  (I)  UNDERTAKE  THE  FINANCING,  REFINANCING,  ACQUISITION, DESIGN,
CONSTRUCTION, RECONSTRUCTION,  REHABILITATION,  IMPROVEMENT,  FURNISHING
AND  EQUIPPING  OF ANY PROJECT AS PROVIDED IN THIS PARAGRAPH, INCLUDING,
BUT NOT LIMITED TO, PROVIDING FOR THE SALE, LEASE, TRANSFER  OR  CONVEY-
ANCE OF STATE-OWNED PROPERTY UNDER THE JURISDICTION OF THE STATE UNIVER-
SITY  TO THE NOT-FOR-PROFIT ENTITY OR (II) GRANT THE AUTHORITY A LIEN ON
ANY  REVENUES  OR  PROPERTY  OR  ANY  MONEYS  TO  BE  RECEIVED  BY   THE
NOT-FOR-PROFIT  ENTITY  TO  THE  EXTENT  THAT SUCH REVENUES, PROPERTY OR
MONEYS ARE PLEDGED BY THE ENTITY TO THE DORMITORY  AUTHORITY  TO  SECURE
THE  PAYMENT  OF  ALL  AMOUNTS  OWED  TO THE AUTHORITY ON ACCOUNT OF ANY
PROJECT UNDERTAKEN PURSUANT TO THIS PARAGRAPH;  PROVIDED  FURTHER,  THAT
ANY PROJECT UNDERTAKEN BY THE DORMITORY AUTHORITY PURSUANT TO THIS PARA-
GRAPH  SHALL  CONSTITUTE A PUBLIC WORK FOR PURPOSES OF THE LABOR LAW AND
SHALL BE SUBJECT TO THE REQUIREMENTS OF ARTICLE FIFTEEN-A OF THE  EXECU-
TIVE  LAW.  ALL STATE OFFICERS ARE HEREBY AUTHORIZED AND REQUIRED TO PAY
ALL SUCH FUNDS SO ASSIGNED AND PLEDGED TO THE  DORMITORY  AUTHORITY  OR,
UPON  THE  DIRECTION  OF  THE DORMITORY AUTHORITY, TO ANY TRUSTEE OF ANY

S. 3693--A                          3

DORMITORY AUTHORITY BOND OR NOTE ISSUE. NEITHER THE STATE OF  NEW  YORK,
THE  STATE  UNIVERSITY OF NEW YORK NOR THE STATE UNIVERSITY CONSTRUCTION
FUND SHALL TAKE ANY ACTION IN SUCH MANNER AS TO IMPAIR OR  DIMINISH  THE
RIGHTS  AND  REMEDIES  OF  THE AUTHORITY PURSUANT TO ANY SUCH PLEDGE AND
ASSIGNMENT AND ANY LIEN OR OTHER SECURITY INTEREST CREATED  PURSUANT  TO
THIS  PARAGRAPH.  NO AGREEMENT PROVIDING FOR THE FINANCING, REFINANCING,
ACQUISITION,  DESIGN,  CONSTRUCTION,   RECONSTRUCTION,   REHABILITATION,
IMPROVEMENT,  FURNISHING  AND  EQUIPPING OF ANY PROJECT PURSUANT TO THIS
PARAGRAPH SHALL PROVIDE  FOR  THE  OPERATION  AND  MAINTENANCE  OF  SUCH
PROJECT AFTER ITS COMPLETION BY AN ENTITY OTHER THAN THE STATE UNIVERSI-
TY OF NEW YORK.
  S 3. This act shall take effect immediately.

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Senate Bill S3693

Sponsored By

Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee

Actions

Bill Amendments

co-Sponsors

2009-S3693 - Details

2009-S3693 - Summary

2009-S3693 - Sponsor Memo

2009-S3693 - Bill Text download pdf

co-Sponsors

2009-S3693A (ACTIVE) - Details

2009-S3693A (ACTIVE) - Summary

2009-S3693A (ACTIVE) - Sponsor Memo

2009-S3693A (ACTIVE) - Bill Text download pdf

Comments

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Sponsored By

Bill Perkins

Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee

Actions

Bill Amendments

co-Sponsors

Antoine M. Thompson

2009-S3693 - Details

2009-S3693 - Summary

2009-S3693 - Sponsor Memo

2009-S3693 - Bill Text download pdf

co-Sponsors

Antoine M. Thompson

2009-S3693A (ACTIVE) - Details

2009-S3693A (ACTIVE) - Summary

2009-S3693A (ACTIVE) - Sponsor Memo

2009-S3693A (ACTIVE) - Bill Text download pdf

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