S T A T E O F N E W Y O R K
________________________________________________________________________
8973
2009-2010 Regular Sessions
I N A S S E M B L Y
June 17, 2009
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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.