Relates to rental payments from the NYC water board; requires the general fund of NYC to provide to the local water fund an amount equal to the amount requested by NYC pursuant to the base rental sum of money pursuant to the lease terms; requires fifty percent of these sums shall be used to provide rebates to residential water and sewer accounts and fifty percent to pay principal and interest on certain outstanding debt.
S T A T E O F N E W Y O R K
________________________________________________________________________
5764
2017-2018 Regular Sessions
I N A S S E M B L Y
February 15, 2017
___________
Introduced by M. of A. GJONAJ -- read once and referred to the Committee
on Cities
AN ACT to amend the administrative code of the city of New York, in
relation to rental payments from the New York city water board
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The administrative code of the city of New York is amended
by adding a new section 5-511 to read as follows:
§ 5-511 RENTAL PAYMENTS FROM THE NEW YORK CITY WATER BOARD. NOTWITH-
STANDING ANY REQUEST OF THE CITY OF NEW YORK FOR A RENTAL PAYMENT FROM
THE NEW YORK CITY WATER BOARD ESTABLISHED PURSUANT TO SECTION ONE THOU-
SAND FORTY-SIX OF THE PUBLIC AUTHORITIES LAW, THE GENERAL FUND OF THE
CITY OF NEW YORK SHALL PROVIDE TO THE LOCAL WATER FUND, ESTABLISHED
PURSUANT TO SUBDIVISION TWO OF SECTION ONE THOUSAND FORTY-FIVE-J OF THE
PUBLIC AUTHORITIES LAW AND THE LEASE AGREEMENT BETWEEN THE CITY OF NEW
YORK AND THE NEW YORK CITY WATER BOARD, AN AMOUNT EQUAL TO THE AMOUNT
REQUESTED BY THE CITY OF NEW YORK PURSUANT TO THE BASE RENTAL SUM OF
MONEY PURSUANT TO THE TERMS OF SUCH LEASE. FIFTY PERCENT OF SUCH SUMS OF
MONIES SHALL BE USED TO PROVIDE REBATES ACROSS THE BOARD TO RESIDENTIAL
WATER AND SEWER ACCOUNTS AND FIFTY PERCENT TO PAY PRINCIPAL AND INTEREST
ON OUTSTANDING DEBT ISSUED BY THE CITY OF NEW YORK BEFORE NINETEEN
HUNDRED EIGHTY-FIVE FOR CAPITAL PROJECTS IN THE WATER AND SEWER SYSTEM,
UNTIL SUCH DEBT IS PAID, WHEREUPON SUCH SUM SHALL BE USED TO PROVIDE
REBATES ACROSS THE BOARD TO RESIDENTIAL WATER AND SEWER ACCOUNTS.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05063-01-7
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