§ 2799-SS — Additional bonds of the authority

New York § 2799-SS

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 33: New York City Transitional Finance Authority
• Art. 8: Miscellaneous Authorities

Text

§ 2799-ss. Additional bonds of the authority. Notwithstanding any\nprovision of this title or of any other law to the contrary, the\nauthority is hereby authorized to issue bonds, notes or other\nobligations in addition to those authorized by section twenty-seven\nhundred ninety-nine-gg of this title in an amount outstanding of up to\ntwo billion five hundred million dollars to pay all costs in the city's\nbudget (whether or not included or includable in the city's capital\nbudget) which are, in the judgment of the mayor, related to or arising\nfrom the terrorist attack on New York city that occurred on September\neleventh, two thousand one. In addition to or in lieu of any revenues or\nother money that may be paid or payable to the authority, such bonds,\nnotes or other obligations may be secured by and payable from the\nproceeds of other bonds, notes or other obligations of the authority or\nfederal or state aid related to or arising from the terrorist attack on\nNew York city that occurred on September eleventh, two thousand one. In\naddition, the authority may issue bonds, notes or other obligations\nwithout limitations as to amount, secured solely by and payable solely\nfrom such federal or state aid. The city, acting through the mayor, is\nhereby authorized to assign the right to receive any such federal or\nstate aid to the authority and, after such assignment, the right to\nreceive such aid shall be the property of the authority. Bonds issued\npursuant to this section shall have a maximum maturity of up to thirty\nyears.\n