§ 425 — Contracts for municipal transportation infrastructure renewal projects

New York § 425

• Jurisdiction: New York
• Law TRA: Transportation
• Art. 17: Implementation of the Rebuild New York Through Transportation Infrastructure Renewal Bond Act of 1983

Text

§ 425. Contracts for municipal transportation infrastructure renewal\nprojects. Any such contract between the commissioner and a municipality\nmay include such provisions as may be agreed upon by the parties\nthereto, and shall include, in substance, the following:\n a. an estimate of the reasonable cost of the project as determined by\nthe commissioner;\n b. an agreement by the commissioner to pay to the municipality during\nthe progress of construction or following completion of construction as\nmay be agreed upon by the parties, an amount, not to exceed the total\ncost of the project or such lesser amount as may have been established\npursuant to section four hundred twenty-four of this article;\n c. an agreement by the municipality:\n (i) to proceed expeditiously with and complete the project as approved\nby the commissioner,\n (ii) to apply for and/or make reasonable efforts to secure federal\nassistance, if any, for the project,\n (iii) to secure the approval of the commissioner before applying for\nsuch federal assistance, in order to maximize the amounts of such\nassistance received or to be received for all projects in New York\nstate,\n (iv) to provide for the municipality's share of the cost of the\nproject when such municipality's share is required by the appropriation\ntherefor,\n (v) to maintain the project at its own expense in accordance with the\nrequirements of the commissioner for the period of time corresponding to\nthe period of useful life for such project as determined by reference to\nsection sixty-one of the state finance law; and\n d. a provision that, in the event that federal assistance which was\nnot included in the calculation of the state payment becomes available\nto the municipality, the amount of the state payment shall be\nrecalculated with the inclusion of such federal assistance and the\nmunicipality shall pay to the state the amount by which the state\npayment actually made exceeds the state payment determined by the\nrecalculation.\n