§ 2784 — County approval of capital projects

§ 2784. County approval of capital projects. 1. It is the intention of\nthe county to select and approve a specific airport redevelopment\nprogram for the Albany county airport upon completion of the federal\naviation administration and New York state environmental review\nprocesses initiated in January of nineteen hundred ninety-two by Albany\ncounty for the Albany county airport development project, which project\nis identified in the "Draft SEQR Environmental Impact Statement/FAA\nEnvironmental Assessment prepared for the FAA/Eastern Region and the\nAlbany County Legislature," by Louis Berger & Associates, Inc. and which\ntwo volume document was accepted as complete and adequate for public and\nagency review by Resolution one hundred fifty-seven of nineteen hundred\nninety-three (March 8, 1993). The Albany county airport redevelopment\nprogram will be determined by the Albany county legislature as part of\nthe adoption of a state environmental quality review act findings\nstatement for said environmental impact statement. The airport\nredevelopment program referred to in this subdivision shall not be\nsubject to the provisions of subdivision two of this section.\n 2. No capital project, other than the redevelopment project described\nin subdivision one of this section, shall be undertaken by the authority\nunless it shall first have been approved by the county legislature as\npart of a five-year capital program plan. For purposes of this section,\nthe term "capital project" shall be defined as the construction,\nreconstruction or acquisition of airport or aviation facilities.\n 3. (a) On or before September first, nineteen hundred ninety-five, and\non or before September first of every fifth year thereafter, the\nauthority shall submit to the county legislature a capital projects plan\nfor the five year period commencing January first of the following year.\nThe plan shall set goals and objectives for capital spending and\ndescribe each capital project proposed to be initiated in each of the\nyears covered by the plan. Each plan shall also set forth an estimate of\nthe amount of capital funding required each year and the expected\nsources of such funding. Each plan subsequent to the first such plan and\neach proposed amendment or modification thereof shall also describe the\ncurrent status of capital projects included in previously approved\nplans.\n (b) (1) A plan may be approved by the county legislature by a majority\nvote of the members. If the plan is not voted on within ninety days of\nits submission to the legislature, it shall be deemed approved;\nprovided, however, that the legislature may agree to extend the time\nperiod in which it must vote on the plan.\n (2) If the plan is not approved, the authority may thereafter\nreformulate and resubmit for approval such plan at any time. If the\nreformulated plan is not voted on within forty-five days of its\nsubmission to the legislature, it shall be deemed approved; provided,\nhowever, that the legislature may agree to extend the time period in\nwhich it must vote on the reformulated plan.\n (c) The authority may from time to time submit to the county\namendments or modifications to the plan. If the amendments or\nmodifications are not voted on within forty-five days of its submission\nto the legislature, it shall be deemed approved; provided, however, that\nthe legislature may agree to extend the time period in which it must\nvote on the amended or modified plan.\n 4. The disapproval of a plan by the county legislature shall not\naffect: (a) the right of the authority to issue bonds or notes to\nfinance a capital project which was initiated prior to such disapproval\nin conformity with a previously approved plan; (b) the right of the\nauthority to issue its bonds, notes, lease, sublease or other\ncontractual obligations in payment for a project initiated prior to such\ndisapproval in conformity with a previously approved plan; (c) the right\nof the authority to issue bonds or notes to refund or otherwise repay\nany of its outstanding bonds or notes or to fulfill any of their\nobligations to the holders of any of their outstanding bonds or notes;\nor (d) the right of the authority to issue its bonds, notes, lease,\nsublease or other contractual obligations to refund or otherwise repay\nany of its outstanding bonds or notes or to fulfill any of its\nobligations to the holders of any of its outstanding bonds or notes.\n