§ 59 — The dormitory authority of the state of New York, the New York state urban development corporation, and the New York state thruway author...

New York § 59

• Jurisdiction: New York
• Law UDA: Urban Development Corporation Act 174/68

Text

§ 59. The dormitory authority of the state of New York, the New York\nstate urban development corporation, and the New York state thruway\nauthority are hereby authorized to issue bonds in one or more series\nunder either article 5-C or article 5-F of the state finance law for the\npurpose of refunding obligations of the power authority of the state of\nNew York to fund energy efficiency projects at state agencies including,\nbut not limited to, the state university of New York, city university of\nNew York, the New York state office of general services, New York state\noffice of mental health, state education department, and New York state\ndepartment of agriculture and markets. The aggregate principal amount of\nbonds authorized to be issued pursuant to this section shall not exceed\nfour hundred seventy-five million dollars ($475,000,000), excluding\nbonds issued to pay costs of issuance of such bonds and to refund or\notherwise repay such bonds. Such bonds issued by the dormitory authority\nof the state of New York, the New York state urban development\ncorporation, and New York state thruway authority shall not be a debt of\nthe state, and the state shall not be liable thereon, nor shall they be\npayable out of any funds other than those appropriated by the state\nunder article 5-C or article 5-F of the state finance law, as\napplicable.\n