§ 552 — Triborough bridge and tunnel authority

New York § 552

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 3: Triborough Bridge Authority
• Art. 3: Bridge and Tunnel Authorities

Text

§ 552. Triborough bridge and tunnel authority. 1. A board, to be known\nas "Triborough bridge and tunnel authority" is hereby created. Such\nboard shall be a body corporate and politic constituting a public\nbenefit corporation. It shall consist of seventeen members, all serving\nex officio. Those members shall be the persons who from time to time\nshall hold the offices of chairman and members of metropolitan\ntransportation authority. The chairman of such board shall be the\nchairman of metropolitan transportation authority, serving ex officio,\nand, provided that there is an executive director of the metropolitan\ntransportation authority, the executive director of the authority shall\nbe the executive director of the metropolitan transportation authority,\nserving ex officio. Notwithstanding any provision of law to the\ncontrary, the chairman shall be the chief executive officer of the\nauthority and shall be responsible for the discharge of the executive\nand administrative functions and powers of the authority. The chairman\nand executive director, if any, each shall be empowered to delegate his\nor her functions and powers to the executive officer of the Triborough\nbridge and tunnel authority or to such person as may succeed to the\npowers and duties of said executive officer. The chairman and other\nmembers of the board hereby created, and the executive director, if any,\nshall not be entitled to compensation for their services hereunder but\nshall be entitled to reimbursement for their actual and necessary\nexpenses incurred in the performance of their official duties.\n 2. A majority of the whole number of members of the authority then in\noffice shall constitute a quorum for the transaction of any business or\nthe exercise of any power of the authority. Except as otherwise\nspecified in this title for the transaction of any business or the\nexercise of any power of the authority, the authority shall have the\npower to act by a majority vote of the members present at any meeting at\nwhich a quorum is in attendance and except further, that in the event of\na tie vote the chairman shall cast one additional vote. For the purposes\nof the voting and quorum requirements of this subdivision, the voting\nand quorum requirements set forth in subdivision three of section twelve\nhundred sixty-three of this chapter and in any by-law of the\nmetropolitan transportation authority adopted pursuant to the provisions\nof such subdivision shall be applicable hereto. Such board and its\ncorporate existence shall continue only for a period of five years and\nthereafter until all its liabilities have been met and its bonds, notes\nand other obligations have been paid in full or such liabilities or\nbonds, notes or other obligations have otherwise been discharged,\nincluding bonds, notes or other obligations issued by the metropolitan\ntransportation authority that are payable in whole or in part by\nrevenues of the authority. When all liabilities incurred by the\nauthority of every kind and character have been met and all its bonds,\nnotes and other obligations have been paid in full, including bonds,\nnotes or other obligations issued by the metropolitan transportation\nauthority that are payable in whole or in part by revenues of the\nauthority, or such liabilities or bonds, notes or other obligations have\notherwise been discharged, all rights and properties of the authority\nshall pass to and be vested in the city, except those rights and\nproperties held by it relating to the convention center which shall pass\nto and be vested in the state. The authority shall retain full\njurisdiction and control over all its projects, with the right and duty,\nsubject to the limitations of subdivision nine of section five hundred\nfifty-two-a of this title, to charge tolls and collect revenues\ntherefrom, for the benefit of the holders of any of its bonds, notes or\nother obligations or other liabilities, even if not issued or incurred\nin connection with the project. Upon the authority's ceasing to exist\nall its remaining rights and properties shall pass to the city, except\nthose rights and properties held by it relating to the convention center\nwhich shall pass to the state.\n 3. Notwithstanding any inconsistent provisions of this or any other\nlaw, general, special or local, no officer or employee of the state or\nof any public corporation as defined in the general corporation law\nshall be deemed to have forfeited or shall forfeit his office or\nemployment or any benefits provided under the retirement and social\nsecurity law or under any public retirement system maintained by the\nstate or any of its subdivisions by reason of being a member or the\nchairman of the authority.\n