§ 1285-P — State environmental infrastructure projects

New York § 1285-P

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 12: New York State Environmental Facilities Corporation
• Art. 5: Public Utility Authorities

Text

§ 1285-p. State environmental infrastructure projects. In order to\neffectuate the purposes of this title, the corporation shall have the\nfollowing additional special powers:\n 1. Subject to chapter fifty-nine of the laws of two thousand, but\nnotwithstanding any other provisions of law to the contrary, in order to\nassist the corporation in undertaking the administration and the\nfinancing of the design, acquisition, construction, improvement,\ninstallation, and related work for all or any portion of any of the\nfollowing environmental infrastructure projects and for the provision of\nfunds to the state for any amounts disbursed therefor: (a) projects\nauthorized under the environmental protection fund, or for which\nappropriations are made to the environmental protection fund including,\nbut not limited to municipal parks and historic preservation,\nstewardship, farmland protection, non-point source, pollution control,\nHudson River Park, land acquisition, and waterfront revitalization; (b)\ndepartment of environmental conservation capital appropriations for\nOnondaga Lake for certain water quality improvement projects in the same\nmanner as set forth in paragraph (d) of subdivision one of section\n56-0303 of the environmental conservation law; (c) for the purpose of\nthe administration, management, maintenance, and use of the real\nproperty at the western New York nuclear service center; (d) department\nof environmental conservation capital appropriations for the\nadministration, design, acquisition, construction, improvement,\ninstallation, and related work on department of environmental\nconservation environmental infrastructure projects; (e) office of parks,\nrecreation and historic preservation appropriations or reappropriations\nfrom the state parks infrastructure fund; (f) capital grants for the\ncleaner, greener communities program; (g) capital costs of water quality\ninfrastructure projects and (h) capital costs of clean water\ninfrastructure projects the director of the division of budget and the\ncorporation are each authorized to enter into one or more service\ncontracts, none of which shall exceed twenty years in duration, upon\nsuch terms and conditions as the director and the corporation may agree,\nso as to annually provide to the corporation in the aggregate, a sum not\nto exceed the annual debt service payments and related expenses required\nfor any bonds and notes authorized pursuant to section twelve hundred\nninety of this title. Any service contract entered into pursuant to this\nsection shall provide that the obligation of the state to fund or to pay\nthe amounts therein provided for shall not constitute a debt of the\nstate within the meaning of any constitutional or statutory provision\nand shall be deemed executory only to the extent of moneys available for\nsuch purposes, subject to annual appropriation by the legislature. Any\nsuch service contract or any payments made or to be made thereunder may\nbe assigned and pledged by the corporation as security for its bonds and\nnotes, as authorized pursuant to section twelve hundred ninety of this\ntitle.\n 2. The comptroller is hereby authorized to receive from the\ncorporation any portion of bond proceeds paid to provide funds for or\nreimburse the state for its costs associated with any state\nenvironmental infrastructure projects and to credit such amounts to the\ncapital projects fund or any other appropriate fund.\n 3. The maximum amount of bonds that may be issued for the purpose of\nfinancing environmental infrastructure projects authorized by this\nsection shall be fourteen billion four hundred eighty million eight\nhundred sixty thousand dollars $14,480,860,000, exclusive of bonds\nissued to fund any debt service reserve funds, pay costs of issuance of\nsuch bonds, and bonds or notes issued to refund or otherwise repay bonds\nor notes previously issued. Such bonds and notes of the corporation\nshall not be a debt of the state, and the state shall not be liable\nthereon, nor shall they be payable out of any funds other than those\nappropriated by the state to the corporation for debt service and\nrelated expenses pursuant to any service contracts executed pursuant to\nsubdivision one of this section, and such bonds and notes shall contain\non the face thereof a statement to such effect.\n