New York § 1009 Contracts negotiated by authority

New York Statutes

§ 1009 — Contracts negotiated by authority

New York § 1009

Law PBAPublic Authorities

Title 1Power Authority of the State of New York

Art. 5Public Utility Authorities

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Bluebook

N.Y. Public Authorities § 1009 (2026).

Text

  § 1009. Contracts negotiated by authority. Contracts negotiated by the\nauthority as provided in sub-paragraph five or six of section one\nthousand five of this title shall be entered into and executed as\nfollows:\n  1. After agreement upon the terms of any such contracts shall have\nbeen reached by the authority and its co-party or co-parties, the\nauthority shall promptly transmit a copy of such proposed contract to\nthe governor, the speaker of the assembly, the minority leader of the\nassembly, the chairman of the assembly committee on ways and means, the\ntemporary president of the senate and the minority leader of the senate\nand the chairman of the senate finance committee and shall hold a public\nhearing or hearings upon the terms thereof. At least thirty days' notice\nof such h

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§ 1009. Contracts negotiated by authority. Contracts negotiated by the\nauthority as provided in sub-paragraph five or six of section one\nthousand five of this title shall be entered into and executed as\nfollows:\n 1. After agreement upon the terms of any such contracts shall have\nbeen reached by the authority and its co-party or co-parties, the\nauthority shall promptly transmit a copy of such proposed contract to\nthe governor, the speaker of the assembly, the minority leader of the\nassembly, the chairman of the assembly committee on ways and means, the\ntemporary president of the senate and the minority leader of the senate\nand the chairman of the senate finance committee and shall hold a public\nhearing or hearings upon the terms thereof. At least thirty days' notice\nof such hearing shall be given by publication once in each week during\nsuch period in each of six newspapers within the state to be selected by\nthe authority. Copies of proposed contracts shall be available for\npublic inspection during such period of thirty days at the office or\noffices of the authority and at such other places throughout the state\nas it may designate.\n 2. Following such public hearing, the authority shall reconsider the\nterms of the proposed contract or contracts and shall negotiate such\nchanges and modifications in the contract or contracts as it then deems\nnecessary or advisable.\n 3. When such contract or contracts are finally agreed upon in terms\nsatisfactory to the authority and its co-party or co-parties, and which\nthe authority believes to be in the public interest, the authority shall\nthereupon report the proposed contract or contracts, together with its\nrecommendations and the record of the public hearings thereon, to the\nspeaker of the assembly, the chairman of the assembly committee on ways\nand means, the temporary president of the senate, the chairman of the\nsenate finance committee and the governor. The governor shall, within\nsixty days thereafter, indicate his approval or disapproval thereof and\ngive his reasons therefor.\n 4. If the governor shall approve such contract, then the same shall be\nexecuted by the chairman and secretary of the authority and it shall\nthereupon come into full force and effect and be binding upon the\nauthority and all other parties thereto in accordance with its terms.\n