BILL NUMBER:S7690

TITLE OF BILL:  An act in relation to granting the Nyack joint fire
district local development corporation and the Nyack general fire
protection company, Inc. legal corporate status as not-for-profit
corporations

PURPOSE:

This bill would grant legal corporate status as not-for-profit
corporations pursuant to section 1411 of the New York State
Not-for-Profit Corporation Law to the Nyack Joint Fire District Local
Development Corporation and the Nyack General Fire Protection Company,
Inc., to authorize the transfer of title to the Park Street fire
station from the Nyack General Fire Protection Company, Inc. to the
Nyack Joint Fire District, in the Towns of Orangetown and Clarkstown
and the Villages of Nyack, Upper Nyack, South Nyack and Upper
Grandview in Rockland County (the "Nyack Joint Fire District").  In
addition, this bill will legalize, validate and confirm certain prior
actions by the Nyack LDCs, which were the subject of a critical report
prepared by the Office of the State Comptroller in December, 2009.

SUMMARY OF PROVISIONS:

Section 1. (i) Grants legal corporate status to the Nyack Joint Fire
District Local Development Corporation and the Nyack General fire
              

Protection Company, Inc. (collectively, the Nyack LDCs"), as
not-for-profit corporations pursuant to section 1411 of the
Not-for-Profit Corporation Law, with the same rights powers and
privileges of any corporation heretofore or hereafter incorporated
under such section; (ii) legalizes, validates and confirms the
transfer of several parcels of real property located on Park Street in
the Village of Nyack and currently the site of the Park Street fire
station from the Nyack Joint Fire District Local Development
Corporation to the Nyack General Fire Protection Company, Inc. and the
lease between the Nyack General Fire Protection Company, Inc. to the
Nyack Joint Fire District, in the Towns of Orangetown and Clarkstown
and the Villages of Nyack, Upper Nyack, South Nyack and Upper
Grandview in Rockland County (the "Nyack Joint Fire District"); (iii)
authorizes the sale of such parcels of real property by the Nyack
General fire Protection Company, Inc. to the Nyack Joint Fire
District, upon such terms and conditions and for such consideration as
may be agreed upon; (iv) terminates the corporate existence of the
Nyack LDCs upon such sale or conveyance and the satisfaction of all
debts, obligations and liabilities by the Nyack LDCs and (v) passes to
and vests in the Nyack Joint Fire District all of the rights and
properties of the Nyack LDC then remaining.

Section 2. Effective date.

JUSTIFICATION:

The Nyack Joint Fire District presently leases a fire station located
on Park Street in the Village of Nyack from the Nyack General fire
Protection Company, Inc., a local development corporation. The Board
of Fire Commissioners has determined that there are significant
financial benefits to the taxpayers if the Nyack Joint Fire District


issues bonds to acquire the fire station and terminates the lease. In
furtherance thereof, in December 2013, a proposition was approved by a
majority of the voters of the Nyack Joint Fire District authorizing
the issuance of bonds not to exceed $3,000,000 by the Nyack Joint Fire
District to finance the acquisition of the fire station located on
Park Street. In order to assure the validity of the transfer of title
from the Nyack General Fire Protection Company, Inc. to the Nyack
Joint Fire District and to resolve any other questions surrounding the
legality of the actions taken by the Nyack General Fire Protection
Company, Inc. and a second local development corporation formed for
the express purpose of financing the construction of said fire
station, the Nyack Joint Fire District is seeking this validating act.

LEGISLATIVE HISTORY:

New bill.

FISCAL IMPLICATIONS:

None.

EFFECTIVE DATE:

This act shall take effect immediately.