§ 1387 — Special port development and improvement powers

New York § 1387

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 3: Ogdensburg Port Authority
• Art. 6: Port Authorities

Text

§ 1387. Special port development and improvement powers. 1. The\nauthority shall have power to make rules and regulations: (a) for the\ndevelopment, improvement, promotion, preservation and utilization of the\nport district and projects, including the Ogdensburg municipal airport\nand the industrial park development on lands wholly or in part acquired\npursuant to the provisions of subdivision one of section thirteen\nhundred eighty-three of this chapter; and (b) for the payment and\ncollection of fees, charges, rentals and other receipts from its\nproperties and facilities within the port district, including the\nOgdensburg municipal airport and the industrial park development, which\nfees, charges, rentals and other receipts are hereinafter referred to as\n"port revenue." Until such time as the state of New York is fully\nreimbursed by the authority for the total amount of money advanced by\nthe state to the authority no rule, regulation, schedule or rate in\nrelation to or governing port revenue shall become effective or\ncontrolling unless approved by the director of the budget of the state\nof New York.\n 2. Until such time as the state of New York is fully reimbursed for\nthe total amount of money advanced by the state to the authority all\nport revenue received by the authority shall be paid to the state\ncomptroller as agent of the authority and deposited in a separate bank\naccount or accounts to be known as the "Ogdensburg port 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, operation and\nimprovement of the industrial park development, port and airport. The\nmoneys of the Ogdensburg port fund when made available shall be paid\nfrom such fund on the audit and warrant of the state comptroller on\nvouchers approved solely by the chairman of the authority or his duly\ndesignated officer.\n 3. All moneys in the Ogdensburg port fund in excess of the sum of two\nhundred thousand dollars shall on the first day of each month be paid by\nthe authority to the state comptroller provided, however, that effective\nJune thirty, nineteen hundred seventy-eight, the director of the budget\nand the authority shall establish within the provisions of a written\nagreement between the authority and the director providing for the\nrepayment to the state by the authority of state advances, the maximum\namount of moneys which the authority may retain in the Ogdensburg port\nfund. The comptroller is hereby authorized to receive from the authority\nsuch amounts as shall be paid to the comptroller pursuant to the\nprovisions of this section and to credit all such amounts to the capital\nconstruction fund. Upon certification by the state comptroller that all\nmoneys due the state have been paid in full, the remaining balance of\nsuch fund shall be available to such authority and may be used by such\nauthority for any corporate purpose. The accounts of the authority shall\nbe subject to examination by the state comptroller. The state\ncomptroller is hereby authorized and empowered to examine the accounts\nand books of the authority at such periods of time he may deem\nnecessary, including its receipts, disbursements, contracts, leases and\nany other matters relating to its financial standing and fiscal affairs.\n 4. The provisions of this section and section thirteen hundred\neighty-three shall not apply to the Waddington port district nor shall\nit apply to the acquisition, operation, utilization, management,\npromotion and improvement at Ogdensburg of the Rutland Railway\nCorporation dock terminal, facilities, appurtenances and the Rutland\nRailway Corporation right-of-way, facilities and appurtenances within\nthe port district, in the event the authority obtains a federal loan or\ngrant or a combination of both to finance the acquisition and\ndevelopment of such Rutland Railway Corporation property within the port\ndistrict, provided, however, that the state of New York be fully\nreimbursed for any advances made for these specific purposes as defined\nin this subdivision, except that such right of reimbursement shall be\nsubordinate to the rights of holders of any obligations issued by the\nauthority pursuant to the terms and conditions applicable to any such\nfederal loan or grant or combination of both.\n 5. Nothing in this section shall prevent the authority and the state\nfrom entering into an agreement for the establishment of a revolving\nfund to be used to pay part of or all of the authority's operating\nexpenses. This revolving fund shall be initially funded with moneys\nadvanced from the Ogdensburg port fund and shall be replenished from\ntime to time from such funds upon the audit and warrant of the\ncomptroller.\n