§ 380. Further additional powers of the authority to finance certain\nlocal highway and bridge improvements and payments to the authority. 1.\n(a) The authority is hereby authorized, as additional corporate purposes\nthereof: (i) to issue bonds and notes and to incur obligations secured\nby the moneys as provided in the service contracts authorized pursuant\nto section eleven of chapter three hundred twenty-nine of the laws of\nnineteen hundred ninety-one, as amended; (ii) to make available the\nproceeds from the sale of such bonds and notes, net of all costs to the\nauthority in connection therewith, for the purposes of financing all or\na portion of the capital costs of local highway and bridge projects\npursuant to sections ten-c, ten-f and ten-g of the highway law and\nsections sixteen and sixteen-a of the chapter of the laws of nineteen\nhundred ninety-one which enacted this section, section eighty-b of the\nhighway law and section fifteen of chapter three hundred twenty-nine of\nthe laws of nineteen hundred ninety-one which enacted this section, and\nproject costs for: construction, reconstruction, improvement,\nreconditioning and preservation of rail freight facilities and intercity\nrail passenger facilities and equipment; construction, reconstruction,\nimprovement, reconditioning and preservation of state, municipal and\nprivately owned ports; construction, reconstruction, improvement,\nreconditioning and preservation of municipal airports; privately owned\nairports and aviation capital facilities, excluding airports operated by\nthe state or operated by a bi-state municipal corporate instrumentality\nfor which federal funding is not available provided the project is\nconsistent with an approved airport layout plan; construction,\nreconstruction, enhancement, improvement, replacement, reconditioning,\nrestoration, rehabilitation and preservation of state, county, town,\ncity and village roads, highways, parkways and bridges, and\nconstruction, reconstruction, improvement, reconditioning and\npreservation of fixed ferry facilities of municipal and privately owned\nferry lines for transportation purposes; (iii) to enter into agreements\nwith the commissioner with respect to financing any such local highways\nand bridges owned, maintained or operated by a municipality, and (iv) to\nenter into service contracts, contracts, agreements, deeds and leases\nwith the director of the budget or the commissioner of transportation\nand project sponsors and others to provide for the financing by the\nauthority of project costs for: construction, reconstruction,\nimprovement, reconditioning and preservation of rail freight facilities\nand intercity rail passenger facilities and equipment; construction,\nreconstruction, improvement, reconditioning and preservation of state,\nmunicipal and privately owned ports; construction, reconstruction,\nimprovement, reconditioning and preservation of municipal airports;\nprivately owned airports and aviation capital facilities, excluding\nairports operated by the state or operated by a bi-state municipal\ncorporate instrumentality for which federal funding is not available\nprovided the project is consistent with an approved airport layout plan;\nconstruction, reconstruction, enhancement, improvement, replacement,\nreconditioning, restoration, rehabilitation and preservation of state,\ncounty, town, city and village roads, highways, parkways and bridges;\nand construction, reconstruction, improvement, reconditioning and\npreservation of fixed ferry facilities of municipal and privately owned\nferry lines for transportation purposes. The director of the budget and\nthe commissioner of transportation are each hereby authorized to enter\ninto service contracts, contracts, agreements, deeds and leases with the\nauthority, project sponsors or others to provide for the financing by\nthe authority of the project costs specified in subparagraph (iv) of the\npreceding sentence.\n (b) Such obligations shall be issued or incurred with the approval of\nthe director of the budget and shall be special limited obligations of\nthe authority secured by and payable solely out of amounts appropriated\nby the legislature as authorized pursuant to such section eleven of\nchapter three hundred twenty-nine of laws of nineteen hundred\nninety-one, as amended, and any other funds appropriated by the\nlegislature to the authority therefor without recourse against any other\nassets, revenues or funds of or other payments due to the authority.\n (d) Such obligations shall contain on the face thereof a statement to\nthe effect that they shall not be deemed to be an obligation of the\nstate and that the state shall not be liable thereon.\n (e) All of the provisions of this title relating to bonds and notes,\nwhich are not inconsistent with the provisions of this section, shall\napply to obligations authorized by this section, including but not\nlimited to the power to issue renewal notes or refunding bonds thereof.\n (f) Notwithstanding any inconsistent provision of law, any place where\nreference to paragraph (c) of this subdivision is made in law it shall\nbe deemed to be a reference to paragraph (b) of this subdivision as\nrelettered by chapter six hundred thirty-seven of the laws of nineteen\nhundred ninety-six which added this paragraph.\n 2. Not less than one hundred twenty days before the beginning of each\nstate fiscal year, the chairman of the authority shall certify to the\ncomptroller and to the director of the budget a schedule of anticipated\ncash requirements for such fiscal year. The total amount so certified\nfor such fiscal year shall be equal to the total amount of the debt\nservice due or expected to be due during such fiscal year on obligations\nof the authority incurred pursuant to subdivision one of this section,\nincluding payments of interest and principal (including sinking fund\npayments), together with:\n (a) the amount, if any, due to any provider of any insurance policy,\nletter of credit or other letter of enhancement or a related facility\nwith respect to such obligations, representing payments made by it as\nprovided in the applicable resolution or trust indenture as a result of\nany previous failure of the state to make any payment provided for in\nthis section, including any related reasonable interest, fees or charges\nso provided;\n (b) the amount, if any, required to restore any applicable reserve\nfund to the applicable reserve fund requirement to the extent any\ndeficiency therein has resulted directly or indirectly from failure by\nthe state to make any payment provided for in this section;\n (c) the amount, if any, required to be rebated to the United States to\nprovide for continued exclusion from federal income taxation of interest\non obligations of the authority; and\n (d) the expenses of the establishment and continued operating expenses\nof the authority relating to local highway and bridge projects and\nproject costs for: construction, reconstruction, improvement,\nreconditioning and preservation of rail freight facilities and intercity\nrail passenger facilities and equipment; construction, reconstruction,\nimprovement, reconditioning and preservation of state, municipal and\nprivately owned ports; construction, reconstruction, improvement,\nreconditioning and preservation of municipal airports; privately owned\nairports and aviation capital facilities, excluding airports operated by\nthe state or operated by a bi-state municipal corporate instrumentality\nfor which federal funding is not available provided the project is\nconsistent with an approved airport layout plan; construction,\nreconstruction, enhancement, improvement, replacement, reconditioning,\nrestoration, rehabilitation and preservation of state, county, town,\ncity and village roads, highways, parkways and bridges; and\nconstruction, reconstruction, improvement, reconditioning and\npreservation of fixed ferry facilities of municipal and privately owned\nferry lines for transportation purposes, funded pursuant to section\neleven of chapter three hundred twenty-nine of the laws of nineteen\nhundred ninety-one, as amended, including, but not limited to, trustees'\nfees, fees payable to providers of credit facilities, fees for issuing\nand paying agents, remarketing agents and dealers, legal counsel,\nfinancial or other advisors or consultants, independent auditors,\nproviders of interest rate exchange agreements, rating agencies,\ntransfer or information agents, the publication of advertisements and\nnotices, surety arrangements, and printer's fees or charges incurred by\nthe authority to comply with applicable federal and state securities and\ntax laws; and any other costs of issuance in excess of the amount\nprovided therefor from the proceeds of the sale of such obligations, to\nthe extent that any of the foregoing amounts or expenses are not to be\npaid from other resources available to the authority for such purpose.\n 3. The chairman of the authority may revise such certification at such\ntimes as shall be determined by the chairman; provided, however, that\nthe chairman of the authority shall revise such certification not later\nthan thirty days after the issuance of any obligations authorized\npursuant to subdivision one of this section including refunding bonds,\nand the adoption of any interest rate exchange or other financial\narrangement affecting the cash requirements of the authority with\nrespect to the obligations incurred pursuant to this section.\n 4. Such certification shall provide for payments on such dates as the\nauthority deems appropriate to ensure that sufficient funds will be\navailable from the sources identified in this section to enable it to\nmeet its current obligations with respect to those obligations incurred\npursuant to this section as they become due.\n 5. Upon receipt of such certification, or any revision thereof, the\ncomptroller shall pay such amount to the authority in accordance with\nsuch certification, from the service contracts authorized pursuant to\nsection eleven of chapter 329 of the laws of nineteen hundred\nninety-one, as amended, or from any other amount appropriated for such\npurpose. Such payments shall be made on or before the date specified in\neach certificate or within thirty days after such receipt, whichever is\nlater, provided that all such amounts shall have been first appropriated\nby the state.\n 6. The state, acting through the director of the budget, and the\nauthority may enter into, amend, modify, or rescind one or more\nagreements providing for the specific manner, timing, and amount of\npayments to be made under this section, but only in conformity with this\nsection. The agreement of the state contained in this section shall be\ndeemed executory only to the extent of appropriations available for\npayments under this section and no liability on account of any such\npayment shall be incurred by the state beyond such appropriations.\n 7. The authorization, sale and issuance of bonds, notes or other\nobligations pursuant to this section shall not be deemed an action as\nsuch term is defined in article eight of the environmental conservation\nlaw for the purposes of such article. Such exemption shall be strictly\nlimited in its application to such financing activities of the authority\nand does not exempt the department of transportation or any other entity\nfrom compliance with such article.\n