S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   11182
 
                           I N  A S S E M B L Y
 
                               June 13, 2018
                                ___________
 
 Introduced  by  COMMITTEE  ON  RULES -- (at request of M. of A. Stec) --
   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 facilities for Village of Lake Plac-
   id, Inc.
 
   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:
   VILLAGE OF LAKE PLACID, INC.
   §  2.  Subdivision  1 of section 1680 of the public authorities law is
 amended by adding a new undesignated paragraph to read as follows:
   VILLAGE OF LAKE PLACID, INC.
   § 3. Subdivision 2 of section 1680 of the public  authorities  law  is
 amended by adding a new paragraph l to read as follows:
   L.  (1)  FOR  PURPOSES OF THIS SECTION, THE FOLLOWING PROVISIONS SHALL
 APPLY TO THE  ACQUISITION,  CONSTRUCTION,  RECONSTRUCTION,  DEVELOPMENT,
 IMPROVEMENT,  EXPANSION  AND/OR  EQUIPPING  OF A FACILITY OR FACILITIES,
 INCLUDING NECESSARY ANCILLARY AND RELATED FACILITIES, AND THE  FINANCING
 AND/OR REFINANCING THEREOF FOR THE VILLAGE OF LAKE PLACID, INC.
   (2)  NOTWITHSTANDING  ANY  OTHER PROVISION OF LAW, THE VILLAGE OF LAKE
 PLACID, INC. SHALL HAVE FULL POWER AND AUTHORITY TO ENTER INTO A  LEASE,
 SUBLEASE OR OTHER AGREEMENT WITH THE DORMITORY AUTHORITY AS IS NECESSARY
 OR  USEFUL  IN  CONNECTION WITH THE CONSTRUCTION AND/OR FINANCING AND/OR
 REFINANCING OF A FACILITY DESCRIBED IN SUBPARAGRAPH ONE  OF  THIS  PARA-
 GRAPH  OR  A MUNICIPAL FACILITY AND ANY ANCILLARY OR RELATED FACILITIES.
 SUCH LEASE, SUBLEASE OR OTHER AGREEMENT MAY PROVIDE FOR, INCLUDING WITH-
 OUT LIMITATION, THE PAYMENT BY THE VILLAGE OF FEES AND AMOUNTS NECESSARY
 TO PAY DEBT SERVICE ON ANY OBLIGATIONS ISSUED BY THE DORMITORY AUTHORITY
 FOR THE SAME, AND THE PLEDGE AND ASSIGNMENT BY THE VILLAGE TO THE DORMI-
 TORY AUTHORITY OF ALL OR A PORTION OF THE  REVENUES  DERIVED  FROM  SUCH
 FACILITY  OR FACILITIES IN AN AMOUNT NOT LESS THAN THE AMOUNT SUFFICIENT
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD16221-01-8

 A. 11182                            2
 
 TO MAKE ALL PAYMENTS REQUIRED TO BE MADE BY ANY SUCH VILLAGE PURSUANT TO
 ANY SUCH LEASE, SUBLEASE OR OTHER AGREEMENT  ENTERED  INTO  BETWEEN  THE
 VILLAGE  AND  THE DORMITORY AUTHORITY. ANY SUCH LEASE, SUBLEASE OR OTHER
 AGREEMENT  ENTERED  INTO PURSUANT TO THIS PARAGRAPH MAY PROVIDE THAT THE
 PROVISIONS THEREOF SHALL REMAIN IN FORCE AND  EFFECT  UNTIL  THE  BONDS,
 NOTES  OR  OTHER  OBLIGATIONS  OF  THE DORMITORY AUTHORITY ARE NO LONGER
 OUTSTANDING, TOGETHER WITH ANY UNPAID INSTALLMENTS OF INTEREST  AND  THE
 FEES  AND  EXPENSES  OF  THE  DORMITORY  AUTHORITY,  ARE  FULLY  MET AND
 DISCHARGED.
   (3) ANY SUCH LEASE, SUBLEASE OR OTHER AGREEMENT SHALL  NOT  CONSTITUTE
 OR  CREATE  INDEBTEDNESS OF THE VILLAGE FOR PURPOSES OF ARTICLE SEVEN OR
 EIGHT OF THE STATE CONSTITUTION OR SECTION 20.00 OF  THE  LOCAL  FINANCE
 LAW,  SHALL BE DEEMED EXECUTORY ONLY TO THE EXTENT OF MONEY APPROPRIATED
 ANNUALLY THEREFOR BY THE VILLAGE AND SHALL NOT CONSTITUTE A  CONTRACTUAL
 OBLIGATION IN EXCESS OF THE AMOUNTS SO APPROPRIATED.
   (4)  ANY  SUCH  LEASE, SUBLEASE OR OTHER AGREEMENT ENTERED PURSUANT TO
 THE PROVISIONS OF THIS PARAGRAPH SHALL NOT BE DEEMED TO BE  AN  INSTALL-
 MENT  PURCHASE  CONTRACT,  CONTRACT FOR PUBLIC WORK OR PURCHASE CONTRACT
 WITHIN THE MEANING OF ARTICLE FIVE-A OF THE GENERAL MUNICIPAL LAW OR ANY
 OTHER LAW.
   § 4. This act shall take effect immediately.