S T A T E   O F   N E W   Y O R K
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                                  3488

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            January 25, 2011
                               ___________

Introduced by M. of A. WRIGHT -- read once and referred 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 a certain
  not-for-profit corporation

  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:
  YOUNG ADULT INSTITUTE, INC., FOR THE ACQUISITION, FINANCING, REFINANC-
ING, CONSTRUCTION, RECONSTRUCTION, RENOVATION, DEVELOPMENT, IMPROVEMENT,
EXPANSION AND EQUIPPING OF CERTAIN  EDUCATIONAL,  COUNSELING,  TRAINING,
MEDICAL,  DENTAL  ADMINISTRATIVE, DAY PROGRAM AND RESIDENTIAL FACILITIES
TO BE LOCATED IN THE STATE OF NEW YORK.
  S 2. Subdivision 1 of section 1680 of the public  authorities  law  is
amended by adding a new undesignated paragraph to read as follows:
  YOUNG ADULT INSTITUTE, INC., FOR THE ACQUISITION, FINANCING, REFINANC-
ING, CONSTRUCTION, RECONSTRUCTION, RENOVATION, DEVELOPMENT, IMPROVEMENT,
EXPANSION  AND  EQUIPPING  OF CERTAIN EDUCATIONAL, COUNSELING, TRAINING,
MEDICAL, DENTAL ADMINISTRATIVE, DAY PROGRAM AND  RESIDENTIAL  FACILITIES
TO  BE  LOCATED  IN  THE  STATE  OF  NEW YORK. NOTWITHSTANDING ANY OTHER
PROVISION OF LAW, THE YOUNG ADULT INSTITUTE, INC. SHALL HAVE FULL  POWER
AND  AUTHORITY  TO ASSIGN AND PLEDGE TO THE DORMITORY AUTHORITY, ANY AND
ALL PUBLIC FUNDS TO BE APPORTIONED OR  OTHERWISE  MADE  PAYABLE  BY  THE
UNITED  STATES,  ANY  AGENCY  THEREOF,  THE STATE, ANY AGENCY THEREOF, A
POLITICAL SUBDIVISION, AS DEFINED IN SECTION ONE HUNDRED OF THE  GENERAL
MUNICIPAL  LAW,  ANY  SOCIAL SERVICES DISTRICT IN THE STATE OR ANY OTHER
GOVERNMENTAL ENTITY  IN  AN  AMOUNT  SUFFICIENT  TO  MAKE  ALL  PAYMENTS
REQUIRED TO BE MADE BY SUCH INSTITUTE PURSUANT TO ANY LEASE, SUBLEASE OR
OTHER  AGREEMENT  ENTERED  INTO BETWEEN SUCH INSTITUTE AND THE DORMITORY

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06902-01-1
              

A. 3488                             2

AUTHORITY. ALL STATE  AND  LOCAL  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 ISSUED, PURSUANT TO A
CERTIFICATE FILED WITH ANY SUCH STATE OR LOCAL OFFICER BY THE  DORMITORY
AUTHORITY PURSUANT TO THE PROVISIONS OF THIS SECTION.
  S 3. Any contracts entered into by the dormitory authority pursuant to
this act shall be deemed state contracts within the meaning of that term
as  set  forth  in  article 15-A of the executive law, and the authority
shall be deemed, for the purposes of this act, a contracting  agency  as
that term is used in such article.
  S 4. This act shall take effect immediately.