§ 3003 — Definitions

New York § 3003

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 1: Short Title; General Definitions; Legislative Findings and Statement of Purposes
• Art. 10: New York State Municipal Assistance Corporation Act

Text

§ 3003. Definitions. As used in this article, the following words and\nterms shall have the following meanings unless the context shall\nindicate another or different meaning or intent:\n 1. "Municipality" means any city in the state.\n 2. "State" means the state of New York.\n 3. "Governor" means the governor of the state of New York.\n 4. "Comptroller" means the comptroller of the state of New York.\n 5. "Director of the budget" means the director of the budget of the\nstate of New York.\n 6. "Legislature" means the legislature of the state of New York.\n 7. "Special law" means the special law of the legislature pursuant to\nwhich a municipal assistance corporation is created.\n 8. "Municipal assistance corporation" means a corporation created\npursuant to section three thousand ten of this article.\n 9. "Bonds" and "notes" means bonds and notes, respectively, issued by\na municipal assistance corporation pursuant to this article.\n 10. "Obligations" means bonds and notes.\n 11. "Amortized value" means for securities purchased at a premium\nabove or a discount below par, the value as of any given date obtained\nby dividing the total amount of the premium or discount at which such\nsecurities were purchased by the number of days remaining to maturity on\nsuch securities at the time of such purchase and by multiplying the\namount so calculated by the number of days having passed since the date\nof such purchase; and (a) in the case of securities purchased at a\npremium, by deducting the product thus obtained from the purchase price,\nand (b) in the case of securities purchased at a discount, by adding the\nproduct thus obtained to the purchase price.\n 12. "Revenues" means all federal or state aid, rents, fees, charges,\npayments and other income and receipts paid or payable to a municipal\nassistance corporation or for the account of a municipal assistance\ncorporation, including any payment permitted or required to be made to\nsuch a corporation by this article.\n 13. "Board of directors" means the board of directors of a municipal\nassistance corporation.\n