§ 1362 — Special port development and improvement powers

§ 1362. Special port development and improvement powers. 1. The port\nof Oswego authority shall have power to make rules and regulations for\nthe development, improvement, promotion, preservation and utilization of\nthe port improvement district and project and for the payment and\ncollection of fees, charges, rentals and other receipts from the port\nimprovement project hereinafter referred to as "port revenue." Until\nsuch time as the state of New York is fully reimbursed by the authority\nfor the total amount of money advanced by the state to the authority no\nrule, regulation, schedule or rate in relation to or governing port\nrevenue shall become effective or controlling unless approved by the\ndirector of the budget of the state of New York.\n 2. All port revenue received by the authority shall be paid to the\nstate comptroller as agent of the authority and deposited in a separate\naccount or accounts to be known as the "port of Oswego fund. " The\nmoneys in such fund shall be available subject to the approval of the\ndirector of the budget of the state of New York for the payment of any\nand all costs and expenditures incurred in relation to the acquisition\nof property, construction, equipment, maintenance, repair and operation\nof the port improvement project. The moneys of the port of Oswego fund\nwhen made available shall be paid from such fund on the audit and\nwarrant of the state comptroller on vouchers approved solely by the\nchairman of the authority or his duly designated officer.\n 3. All moneys in the port of Oswego fund in excess of the sum of three\nhundred fifty thousand dollars shall on the first day of each month be\npaid by the authority to the state comptroller provided, however, that\neffective March thirty-one, nineteen hundred seventy-eight, the director\nof the budget and the authority shall establish within the provisions of\na written agreement between the authority and the director providing for\nthe repayment to the state by the authority of state advances the\nmaximum amount of moneys which the authority may retain in the port of\nOswego fund. The comptroller is hereby authorized to receive from the\nauthority such amounts as shall be paid to the comptroller pursuant to\nthe provisions of this section and to credit all such amounts to the\ncapital construction fund. Upon certification by the state comptroller\nthat all moneys due the state have been paid in full, the remaining\nbalance of such fund shall be available to such authority and may be\nused by such authority for any corporate purpose. The accounts of the\nauthority shall be subject to examination by the state comptroller.\n 4. The comptroller of the state and his legally authorized\nrepresentatives are hereby authorized and empowered from time to time to\nexamine the accounts and books of the authority, including its receipts,\ndisbursements, contracts, leases, sinking funds, investments and any\nother matter relating to its financial standing and fiscal affairs.\n