§ 3960 — Additional provisions

New York § 3960

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 3: Erie County Fiscal Stability Authority
• Art. 10-D: Miscellaneous Authorities

Text

§ 3960. Additional provisions. 1. Notwithstanding any provision to the\ncontrary in title six-A of article two of the local finance law, neither\nthe county nor any covered organization shall file any petition\nauthorized by such title six-A without the approval of the authority and\nthe state comptroller. No such petition shall be filed as long as any\nbonds, notes or other obligations issued by the authority remain\noutstanding. Failure of the authority or the state comptroller to notify\nthe county or a covered organization within thirty days (or such\nadditional time, not exceeding thirty days, as the authority or state\ncomptroller shall have notified the county or covered organization that\nit requires to complete its review) after submission to it of a petition\nshall be deemed to constitute authority or state comptroller approval\nthereof.\n 2. Nothing contained in this title shall limit the right of the county\nor any covered organization to comply with the provisions of any\nexisting contract within or for the benefit of the holders of any bonds,\nnotes or other obligations of the county or such covered organization.\n 3. Nothing contained in this title shall be construed to limit the\npower of the county or a covered organization to determine, from time to\ntime, within available funds for the county or for such covered\norganization, the purposes for which expenditures are to be made by the\ncounty or such covered organization and the amounts of such\nexpenditures, consistent with the aggregate expenditures then permitted\nunder the financial plan for the county or such covered organization.\n 4. The authority's fiscal year shall be January first through December\nthirty-first.\n 5. The authority shall adopt guidelines for procurement contracts in\naccordance with section twenty-eight hundred seventy-nine of this\nchapter.\n 6. Nothing contained in this title shall alter, limit, modify or\nimpair the right of any school district or any city, town, or village\nwithin the county to receive from the county net collections, as\nauthorized by section twelve hundred sixty-two of the tax law, from the\ncounty's sales and compensating use taxes imposed pursuant to the\nauthority of subpart B of part one of article twenty-nine of the tax\nlaw.\n