1. The Laws of New York
  2. Unconsolidated Laws
  3. Medical Care Facilities Finance Agency 392/73


Section 5-B Equipment loans

Medical Care Facilities Finance Agency 392/73 (MCF)

1. The agency may make an equipment loan to a non-profit hospital corporation, a county hospital, a municipal hospital, a New York state department of health facility, a state university of New York health care facility or a non-profit corporation providing a residential health care facility, upon terms and conditions not inconsistent with article twenty-eight of the public health law and this section. The proceeds of such loan are to be used substantially to finance the acquisition through purchase or lease of equipment including construction and rehabilitation related to the installation of such equipment or the acquisition of intellectual property or other intangible property, including information technology and software, that is eligible for tax-exempt financing under the United States internal revenue code.

  2. The agency shall not make an equipment loan unless the agency finds that the non-profit hospital corporation, municipal hospital, county hospital, New York state department of health facility, a state university of New York health care facility or non-profit corporation providing a residential health care facility, has complied with the provisions of article twenty-eight of the public health law in connection with the proposed equipment loan and that the commissioner has approved the equipment acquisition or lease pursuant to section twenty-eight hundred two of the public health law in any case where the acquisition or lease is subject to the provisions of such section, or has approved such acquisition or lease according to guidelines prescribed by the commissioner in any other case.

  3. The agency may make an equipment loan by the purchase, lease or sublease of equipment by the agency and the lease or sublease of such equipment to a non-profit hospital corporation, a county hospital, a municipal hospital, a hospital under the jurisdiction of the state university of New York health care facility, or a non-profit corporation providing a residential health care facility for the purpose of providing for the acquisition of such equipment and for the construction and rehabilitation related to the installation thereof. Notwithstanding the above, the agency shall not make an equipment loan pursuant to this section unless or until the borrower or lessee, vendee, licensee or other ultimate beneficiary of such equipment loan has obtained the approval of the commissioner pursuant to section twenty-eight hundred two of the public health law or such other guidelines prescribed by the commissioner in any case where the acquisition or lease is or would otherwise have been subject to such provisions, had the borrower, lessee, vendee, licensee or ultimate beneficiary of such equipment loan obtained financing from a source other than the agency.

  * NB There are 2 § 5-b's