§ 2610 — Review of and recommendation on continuation of the authority

New York § 2610

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 28: New York State Olympic Regional Development Authority
• Art. 8: Miscellaneous Authorities

Text

§ 2610. Review of and recommendation on continuation of the authority.\n1. The authority and its corporate existence shall continue until\nterminated by law, provided, however, that no such law shall take effect\nso long as the authority shall have any outstanding obligations, unless\nadequate provision has been made for the satisfaction thereof.\n 2. The authority shall submit on August fifteenth, nineteen hundred\nninety, a report to the governor, the chairman of the senate finance\ncommittee and the chairman of the assembly ways and means committee and\nthe park district detailing the accomplishments of the authority since\nits creation and making recommendations concerning its continuation.\n 3. The comptroller may conduct periodic financial audits of the\nauthority and report on August fifteenth, nineteen hundred ninety, to\nthe governor, the chairman of the senate finance committee and the\nchairman of the assembly ways and means committee and the park district\non the appropriateness of the financial practices of the authority.\n 4. The director of the budget is hereby directed to conduct a survey\nof the management and operating practices of the authority and report on\nAugust fifteenth, nineteen hundred ninety, to the governor, the chairman\nof the senate finance committee and the chairman of the assembly ways\nand means committee and the park district on the appropriateness of the\nmanagement and operating practices of the authority. The director of the\nbudget shall include in such report his recommendations of whether the\nauthority shall be terminated or whether it shall be changed in any\nmanner, and if the director of the budget shall recommend that the\nauthority be terminated, he shall recommend what functions shall be\neliminated and what functions shall be continued by another authority or\nagency.\n 5. In the event of termination of the existence of the authority, all\nof its rights and properties shall pass to and be vested in the state,\nexcept the personal property and any replacements and/or substitutions\ntherefor, used solely in connection with a participating olympic\nfacility which is administered, owned or supervised by the park district\nshall pass to and be vested in the park district. All property which\npasses to the state or the park district on termination of the authority\nshall be accepted by the state or the park district, as the case may be,\nin its condition at the time of such termination.\n