§ 1230-I — Agreements among the water board, the city, municipalities and the authority for the provision of projects

§ 1230-i. Agreements among the water board, the city, municipalities\nand the authority for the provision of projects. 1. The authority, the\nwater board, the city, any municipality and any other person may enter\ninto agreements for the purpose of providing for the construction and\nfinancing of a project.\n 2. Any such agreements: (a) shall describe in sufficient detail for\nreasonable identification the particular project or groups of projects\nto be financed in whole or in part by the authority, (b) shall describe\nthe plan for the financing of the cost of the construction of such\nproject, including the amount, if any, to be provided by the water board\nand the source or sources thereof, (c) shall set forth the method by\nwhich and by whom and the terms and conditions upon which moneys\nprovided by the authority shall be disbursed, (d) may require, in the\ndiscretion of the authority, the payment to the authority of the\nproceeds of any state and federal grants available to the water board,\n(e) shall provide for the establishment of user fees, rates and other\ncharges and the charging and collection thereof by the water board for\nthe use of, or services furnished, rendered or made available by such\nproject such as to provide that the water board receive revenues at\nleast sufficient, together with other revenues of the water board, if\nany, to meet the requirements of this title, (f) may provide for the\ntransfer by the city, any state agency, or by any municipality to the\nwater board pursuant to this title of ownership of any project, (g) may\nprovide for the construction and completion of such project by the city,\nany municipality or the water board and for the management, operation,\nmaintenance and repair thereof, as an integrated part of the system of\nwhich such project forms a part, subject to such terms and conditions,\nnot inconsistent with this title, which may be in the public interest\nand necessary or desirable properly and adequately to secure the holders\nof bonds of the authority, (h) shall provide for the discontinuance or\ndisconnection of the supply of water for nonpayment of fees, rates or\nother charges therefor imposed by the water board, provided such\ndiscontinuance or disconnection of any supply of water shall not be\ncarried out except in the manner and upon the notice as is required of a\nwaterworks corporation pursuant to the public service law, and (i)\nshall, in the discretion of the authority, require reports concerning\nthe project from the water board to the authority and any municipality.\n 3. If the city executes an agreement pursuant to this section,\nrelating to the financing of projects by revenue bonds, it shall have\nand shall be deemed to have annulled its power to levy user fees, rents\nand other charges on participating properties or customers for the cost\nof financing, operating and maintaining such projects under its\njurisdiction until all bonds of the authority shall have been paid or\ndischarged in accordance with the agreement and the resolution of the\nauthority authorizing such bonds. If the city has outstanding general\nobligation bonds issued for acquiring or constructing system facilities,\nwhether the bonds are payable from revenues, special assessments, or\ntaxes, it may authorize the authority pursuant to the agreement to issue\nits revenue bonds under this title for the purpose of retiring the\noutstanding bonds.\n 4. No such agreement shall be executed until the water board shall\nhave held a public hearing at which users of the project shall have had\nopportunity to be heard concerning the proposed provisions thereof.\nNotice of such hearing shall be published not less than ten nor more\nthan twenty days in advance in a newspaper or newspapers having a\ngeneral circulation in the service area as designated by the water\nboard.\n 5. Such agreement shall be effective upon the issuance by the\nauthority of bonds to finance the cost of constructing projects of the\ncity, any municipality or the water board.\n 6. Any such agreement may be amended, revised or extended by\nsupplemental agreements authorized and executed in the same manner as\nthe original agreement, provided that any such supplemental agreement\nshall not be inconsistent with the provisions of this title.\n 7. (a) Following the execution of the initial agreement by and between\nthe authority, the water board, the city, any state agency and any\nmunicipality pursuant to this section, the secretary of the water board\nshall, and following the execution of any subsequent agreement by and\nbetween the authority, the water board, any state agency, and any\nmunicipality pursuant to this section, publish a notice in substantially\nthe following form:\n "Notice is hereby given that (here insert the parties to the\n agreement) (has) (have) on the day of entered\n into an agreement with the Niagara Falls Public Water Authority in\n relation to the construction and financing of (here insert a brief\n description of the project or facility to which such agreement\n relates) pursuant to the Niagara Falls Public Water Authority act\n for the purpose of placing its facilities on an independent basis,\n imposing fees and rates on system users, which, together with\n other revenues available for such purposes, if any, are sufficient\n to pay to the authority debt service on bonds issued by the\n authority pursuant to the agreement and for management, operation,\n repair and maintenance of the facility (title to which is\n transferred to the water board pursuant to the agreement). Such\n agreement in general terms provides (here insert a brief summary\n of the substantive provisions of such agreement). A copy of the\n complete agreement is on file for public inspection in the office\n of the secretary of the water board where the same may be examined\n by any interested person during regular business hours. The\n validity of the agreement may be hereafter contested only upon the\n ground or grounds that: (i) such agreement violates, or the\n performance of any provision thereof by any party thereto would\n violate, the provisions of the state constitution or (ii) the\n provisions of law which should have been complied with, in\n relation to the authorization and execution thereof were not\n substantially complied with, and an action, suit or proceeding is\n commenced within sixty days after the date of this notice."\n (b) The publication authorized by this subdivision shall be in a\nnewspaper or newspapers having a general circulation in the service area\nas designated by the water board.\n (c) After the expiration of the sixty day period set forth in such\nnotice, the validity of such agreement shall be conclusively presumed\nand the validity thereof shall not thereafter be questioned by either a\nparty plaintiff or a party defendant and no court shall have\njurisdiction in any action, suit or proceeding contesting such validity.\n (d) Neither any error nor omission in the notice of publication\nprovided for in this subdivision shall affect or impair the validity of\nan agreement executed pursuant to this section so long as the notice\nsubstantially conforms to the provisions of this section.\n