S T A T E   O F   N E W   Y O R K
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                                  8973

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                              June 17, 2009
                               ___________

Introduced by M. of A. BACALLES -- read once and referred to the Commit-
  tee on Corporations, Authorities and Commissions

AN  ACT  to amend the public authorities law, in relation to authorizing
  the dormitory authority to partially finance  certain  facilities  for
  the Corning city school district

  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:
  CORNING  CITY  SCHOOL  DISTRICT  FOR  THE PARTIAL FINANCING OR PARTIAL
REIMBURSEMENT OF THE COSTS OF  THE  ACQUISITION,  DESIGN,  CONSTRUCTION,
RECONSTRUCTION,  REHABILITATION,  IMPROVEMENT,  FURNISHING AND EQUIPPING
OF, OR OTHERWISE PROVIDING  FOR,  SCHOOL  DISTRICT  CAPITAL  FACILITIES;
PROVIDED,  HOWEVER,  THAT THE AGGREGATE SUM OF ANY BONDS ISSUED FOR SUCH
PURPOSE SHALL NOT EXCEED FORTY MILLION DOLLARS.
  S 2. Subdivision 1 of section 1680 of the public  authorities  law  is
amended by adding a new undesignated paragraph to read as follows:
  CORNING  CITY  SCHOOL  DISTRICT  FOR  THE PARTIAL FINANCING OR PARTIAL
REIMBURSEMENT OF THE COSTS OF  THE  ACQUISITION,  DESIGN,  CONSTRUCTION,
RECONSTRUCTION,  REHABILITATION,  IMPROVEMENT,  FURNISHING AND EQUIPPING
OF, OR OTHERWISE PROVIDING  FOR,  SCHOOL  DISTRICT  CAPITAL  FACILITIES;
PROVIDED,  HOWEVER,  THAT THE AGGREGATE SUM OF ANY BONDS ISSUED FOR SUCH
PURPOSE SHALL NOT EXCEED FORTY MILLION DOLLARS.
  S 3. All contracts entered into by the dormitory authority pursuant to
the provisions of this act shall be deemed to be state contracts  within
the  meaning  of that term as set forth in article 15-A of the executive
law, and the dormitory authority shall be deemed, for  the  purposes  of
this act, a contracting agency as the term is used in such article.
  S  4.  Notwithstanding  subparagraph (1) of paragraph b of subdivision
thirty-eight of section 1680 of the public authorities  law,  no  lease,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14425-01-9
              

A. 8973                             2

sublease  or  other  agreement by and between the school district of the
city of Corning and the dormitory authority of the state of New York for
the purpose of financing school district capital  facilities  or  school
district  capital  equipment  pursuant  to  subdivision  thirty-eight of
section 1680 of the public authorities law shall constitute indebtedness
for the purposes of section 104.00 of the local finance law  unless  the
school district has pledged its full faith and credit in accordance with
subparagraph  (2)  of paragraph b of subdivision thirty-eight of section
1680 of the public authorities law.
  S 5. This act shall take effect immediately.