N.Y. Public Authorities Law Section 1274
Notes and bonds as legal investment


The notes and bonds of the authority are hereby made securities in which all public officers and bodies of the state and all municipalities and political subdivisions, all insurance companies and associations and other persons carrying on an insurance business, all banks, bankers, trust companies, savings banks and savings associations, including savings and loan associations, building and loan associations, investment companies and other persons carrying on a banking business, all administrators, guardians, executors, trustees and other fiduciaries, and all other persons whatsoever who are now or who may hereafter be authorized to invest in bonds or other obligations of the state, may properly and legally invest funds including capital in their control or belonging to them. Notwithstanding any other provisions of law, the bonds of the authority are also hereby made securities which may be deposited with and shall be received by all public officers and bodies of this state and all municipalities and political subdivisions for any purpose for which the deposit of bonds or other obligations of the state is now or may hereafter be authorized.

Source: Section 1274 — Notes and bonds as legal investment, https://www.­nysenate.­gov/legislation/laws/PBA/1274 (updated Sep. 22, 2014; accessed Jul. 13, 2024).

1260
Short title
1261
Definitions
1262
Metropolitan commuter transportation district
1263
Metropolitan transportation authority
1264
Purposes of the authority
1264‑A
State of emergency
1265
General powers of the authority
1265‑A
Contracts
1265‑B
Metropolitan transportation authority small business mentoring program
1266
Special powers of the authority
1266‑A
Medical emergency services
1266‑B
Medical emergency services plan
1266‑C
Transit projects
1266‑D
Long Island rail road commuter’s council
1266‑E
Metro-North rail commuter council
1266‑F
Medical emergency services plan
1266‑G
Excess loss fund
1266‑H
Authority police force
1266‑I
The permanent citizens advisory committee
1266‑J
Metropolitan transportation authority pledge to customers
1266‑K
Expired fare transfer policy
1266‑L
Surveillance cameras
1266‑L*2
Light duty for employees
1266‑M
Information concerning services for human trafficking victims
1267
Acquisition and disposition of real property
1267‑A
Acquisition and disposition of real property by department of transportation
1267‑B
Transit facilities for transit construction fund
1268
Co-operation and assistance of other agencies
1268‑A
Promotion of qualified transportation fringes
1269
Notes, bonds and other obligations of the authority
1269‑A
Metropolitan transportation authority capital program review board
1269‑B
Capital program plans
1269‑C
Metropolitan transportation authority capital program review board
1269‑D
Submission of strategic operation plan
1269‑E
Financial and operational reports
1269‑F
Mission statement and measurement report
1269‑G
Requirements for certain authority contracts and related subcontracts
1270
Reserve funds and appropriations
1270‑A
Metropolitan transportation authority special assistance fund
1270‑B
Metropolitan transportation authority Dutchess, Orange and Rockland fund
1270‑C
Metropolitan transportation authority dedicated tax fund
1270‑D
Consolidated financings
1270‑E
Implementation of the Transportation Infrastructure Bond Act of 2000
1270‑F
Implementation of the rebuild and renew New York transportation bond act of two thousand five
1270‑G
Regulation of certain authority expenditures
1270‑H
Metropolitan transportation authority finance fund
1270‑I
New York city transportation assistance fund
1270‑J
Metropolitan transportation authority commercial gaming revenue fund
1271
Agreement of the state
1272
Right of state to require redemption of bonds
1273
Remedies of noteholders and bondholders
1274
Notes and bonds as legal investment
1275
Exemption from taxation
1276
Actions against the authority
1276‑A
Annual audit of authority
1276‑B
Authority budget and financial plan
1276‑C
Independent audit of authority
1276‑D
Independent audit by the legislature
1276‑E
Reporting
1276‑F
Metropolitan transportation authority transit performance metrics
1277
Station operation and maintenance
1277‑A
Transfer and receipt of surplus funds
1278
Title not affected if in part unconstitutional or ineffective
1279
Metropolitan transportation authority inspector general
1279‑A
Management advisory board
1279‑B
Transition--election to withdraw from the metropolitan commuter transportation district
1279‑C
The office of legislative and community input
1279‑D
Supplemental revenue reporting program
1279‑E
Assignment, transfer, sharing or consolidating powers, functions or activities
1279‑F
Independent forensic audit
1279‑G
Major construction review unit
1279‑H
Debarment
1279‑I
Open data reporting
1279‑L
Right to share employees

Accessed:
Jul. 13, 2024

Last modified:
Sep. 22, 2014

§ 1274’s source at nysenate​.gov

Link Style