S T A T E O F N E W Y O R K
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6295--A
2009-2010 Regular Sessions
I N S E N A T E
November 16, 2009
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Introduced by Sen. VALESKY -- read twice and ordered printed, and when
printed to be committed to the Committee on Rules -- recommitted to
the Committee on Corporations, Authorities and Commissions in accord-
ance with Senate Rule 6, sec. 8 -- committee discharged, bill amended,
ordered reprinted as amended and recommitted to said committee
AN ACT to amend the public authorities law, in relation to projects at
the New York state fair
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 1680-k of the public authorities law is amended by
adding a new subdivision 3 to read as follows:
3. (A) NOTWITHSTANDING THE PROVISIONS OF ANY OTHER LAW TO THE CONTRA-
RY, THE AUTHORITY IS HEREBY AUTHORIZED TO ISSUE BONDS OR NOTES IN ONE OR
MORE SERIES FOR THE PURPOSE OF FUNDING PROJECT COSTS FOR CONSTRUCTION
PROJECTS AT THE DIVISION OF THE STATE FAIR. THE AGGREGATE PRINCIPAL
AMOUNT OF BONDS AUTHORIZED TO BE ISSUED PURSUANT TO THIS SUBDIVISION
SHALL NOT EXCEED TWENTY MILLION DOLLARS, EXCLUDING BONDS ISSUED TO FUND
ONE OR MORE DEBT SERVICE RESERVE FUNDS, TO PAY COSTS OF ISSUANCE OF SUCH
BONDS, AND BONDS OR NOTES ISSUED TO REFUND OR OTHERWISE REPAY SUCH BONDS
OR NOTES PREVIOUSLY ISSUED. SUCH BONDS AND NOTES OF THE AUTHORITY SHALL
NOT BE A DEBT OF THE STATE, AND THE STATE SHALL NOT BE LIABLE THEREON,
NOR SHALL THEY BE PAYABLE OUT OF ANY FUNDS OTHER THAN THOSE APPROPRIATED
BY THE STATE TO THE AUTHORITY FOR PRINCIPAL, INTEREST, AND RELATED
EXPENSES PURSUANT TO A SERVICE CONTRACT AND SUCH BONDS AND NOTES SHALL
CONTAIN ON THE FACE THEREOF A STATEMENT TO SUCH EFFECT. EXCEPT FOR
PURPOSES OF COMPLYING WITH THE INTERNAL REVENUE CODE, ANY INTEREST
INCOME EARNED ON BOND PROCEEDS SHALL ONLY BE USED TO PAY DEBT SERVICE ON
SUCH BONDS.
(B) NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE CONTRARY, IN
ORDER TO ASSIST THE AUTHORITY IN UNDERTAKING THE FINANCING OF
CONSTRUCTION PROJECTS AT THE DIVISION OF THE STATE FAIR, THE DIRECTOR OF
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD15049-02-0
S. 6295--A 2
THE BUDGET IS HEREBY AUTHORIZED TO ENTER INTO ONE OR MORE SERVICE
CONTRACTS WITH THE AUTHORITY, NONE OF WHICH SHALL EXCEED THIRTY YEARS IN
DURATION, UPON SUCH TERMS AND CONDITIONS AS THE DIRECTOR OF THE BUDGET
AND THE AUTHORITY AGREE, SO AS TO ANNUALLY PROVIDE TO THE AUTHORITY, IN
THE AGGREGATE, A SUM NOT TO EXCEED THE PRINCIPAL, INTEREST, AND RELATED
EXPENSES REQUIRED FOR SUCH BONDS AND NOTES. ANY SERVICE CONTRACT ENTERED
INTO PURSUANT TO THIS SECTION SHALL PROVIDE THAT THE OBLIGATION OF THE
STATE TO PAY THE AMOUNT THEREIN PROVIDED SHALL NOT CONSTITUTE A DEBT OF
THE STATE WITHIN THE MEANING OF ANY CONSTITUTIONAL OR STATUTORY
PROVISION AND SHALL BE DEEMED EXECUTORY ONLY TO THE EXTENT OF MONIES
AVAILABLE AND THAT NO LIABILITY SHALL BE INCURRED BY THE STATE BEYOND
THE MONIES AVAILABLE FOR SUCH PURPOSE, SUBJECT TO ANNUAL APPROPRIATION
BY THE LEGISLATURE. ANY SUCH CONTRACT OR ANY PAYMENTS MADE OR TO BE MADE
THEREUNDER MAY BE ASSIGNED AND PLEDGED BY THE AUTHORITY AS SECURITY FOR
ITS BONDS AND NOTES, AS AUTHORIZED BY THIS SECTION.
(C) PRIOR TO THE COMMENCEMENT OF CONSTRUCTION OF ANY PROJECT FINANCED
PURSUANT TO THIS SUBDIVISION, THE COMMISSIONER OF AGRICULTURE AND
MARKETS AND THE AUTHORITY SHALL ENTER INTO AN AGREEMENT PROVIDING FOR
THE DESIGN, CONSTRUCTION, RECONSTRUCTION, REHABILITATION AND IMPROVEMENT
PROJECTS AT THE DIVISION OF THE STATE FAIR. SUCH AGREEMENT SHALL PROVIDE
FOR THE DORMITORY AUTHORITY TO (I) PROCURE SUCH ARCHITECTS, ENGINEERS,
CONSTRUCTION MANAGERS AND CONTRACTORS NECESSARY TO DESIGN, MANAGE AND
CONSTRUCT THE PROJECT (INCLUDING THE PERFORMANCE OF SERVICES RELATING TO
PLANNING, DESIGN REVIEW, BUDGETING, CONSTRUCTION SCHEDULING, CONSTRUCTA-
BILITY REVIEWS, COORDINATION OF PRIME CONTRACTORS, COST CONTROL AND
PROCESSING OF CHANGE ORDERS); AND (II) MONITOR, SUPERVISE, REVIEW AND
COORDINATE THE SERVICES OF ALL ARCHITECTS, ENGINEERS, CONSTRUCTION
MANAGERS AND CONTRACTORS ENGAGED PURSUANT TO SUCH AGREEMENT TO THE
EXTENT THAT THE AUTHORITY DEEMS IT NECESSARY TO FULFILL ITS RESPONSIBIL-
ITIES AS AGENT OR REPRESENTATIVE OF THE DEPARTMENT OF AGRICULTURE AND
MARKETS UNDER SUCH AGREEMENT. THE AGREEMENT SHALL CONTAIN SUCH OTHER
TERMS AND CONDITIONS AS MAY BE AGREED UPON BY THE COMMISSIONER AND THE
AUTHORITY.
S 2. This act shall take effect immediately.