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

                                  6651

                            I N  S E N A T E

                            February 3, 2016
                               ___________

Introduced  by  Sen.  FARLEY -- read twice and ordered printed, and when
  printed to be committed to the Committee on Corporations,  Authorities
  and Commissions

AN  ACT  to  amend  the  public  authorities  law,  in  relation  to the
  construction and financing of facilities by  the  dormitory  authority
  for  the New York Library Association; and providing for the repeal of
  such provisions upon expiration thereof

  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:
  THE NON-PROFIT MEMBERS OF THE NEW YORK LIBRARY ASSOCIATION, INC.   FOR
THE  ACQUISITION,  FINANCING,  CONSTRUCTION, RECONSTRUCTION, RENOVATION,
DEVELOPMENT, IMPROVEMENT, EXPANSION AND EQUIPPING OF LIBRARY FACILITIES.
  S 2. Subdivision 1 of section 1680 of the public  authorities  law  is
amended by adding two new undesignated paragraphs to read as follows:
  THE  NON-PROFIT MEMBERS OF THE NEW YORK LIBRARY ASSOCIATION, INC.  FOR
THE ACQUISITION, FINANCING, REFINANCING,  CONSTRUCTION,  RECONSTRUCTION,
RENOVATION, DEVELOPMENT, IMPROVEMENT, EXPANSION AND EQUIPPING OF LIBRARY
FACILITIES  IN  THE  STATE  OF  NEW  YORK. THE PRINCIPAL AMOUNT OF BONDS
ISSUED BY THE DORMITORY AUTHORITY FOR THE COSTS OF EACH PROJECT  AUTHOR-
IZED  HEREUNDER  SHALL NOT EXCEED FIVE MILLION DOLLARS, EXCEPT FOR BONDS
ISSUED TO REFUND OR REFINANCE BONDS PREVIOUSLY ISSUED FOR SUCH PROJECTS.
  NOTWITHSTANDING ANY OTHER PROVISION OF LAW,  EACH  OF  THE  NON-PROFIT
MEMBERS  OF  THE  NEW  YORK  LIBRARY  ASSOCIATION,  INC.  SUBJECT TO THE
PROVISIONS OF THIS CHAPTER, INCLUDING ASSOCIATION AND  PUBLIC  LIBRARIES
AS  DEFINED  IN  SECTION  TWO  HUNDRED FIFTY-THREE OF THE EDUCATION LAW,
SHALL HAVE FULL POWER AND AUTHORITY TO ASSIGN AND PLEDGE TO THE DORMITO-
RY AUTHORITY, ANY AND ALL PUBLIC FUNDS TO BE  APPORTIONED  OR  OTHERWISE
MADE  PAYABLE  BY  THE  STATE,  A  POLITICAL  SUBDIVISION, AS DEFINED IN
SECTION ONE HUNDRED  OF  THE  GENERAL  MUNICIPAL  LAW,  OR  ANY  LIBRARY
DISTRICT  IN  THE  STATE  IN  AN  AMOUNT SUFFICIENT TO MAKE ALL PAYMENTS
REQUIRED TO BE MADE PURSUANT TO ANY LEASE, SUBLEASE OR  OTHER  AGREEMENT

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

                                                           LBD13791-01-6

S. 6651                             2

ENTERED  INTO BETWEEN THE NON-PROFIT MEMBER AND THE DORMITORY AUTHORITY.
ALL STATE AND LOCAL OFFICERS ARE HEREBY AUTHORIZED TO PAY ALL SUCH FUNDS
SO ASSIGNED AND PLEDGED TO THE DORMITORY AUTHORITY OR, UPON DIRECTION OF
THE  DORMITORY AUTHORITY, TO ANY TRUSTEE OF ANY DORMITORY AUTHORITY BOND
OR NOTE ISSUE, 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. The expiration and repeal of sections one, two and three of  this
act  shall  not  affect or impair in any manner any bonds issued, or any
loan made to any borrower, pursuant to the provisions of this act  prior
to the expiration of such sections.
  S 5. This act shall take effect immediately and shall  expire  and  be
deemed repealed December 31, 2021.