N.Y. Public Authorities Law Section 1285-K
Financing of the design, acquisition, construction, improvement and installation of Riverbank Park


In order to effectuate the purposes of this title, the corporation shall have the following additional special powers:

1.

Notwithstanding the provisions of any law to the contrary, the corporation and any state agency, subject to the approval of the director of the budget, may enter into a contract for financing the design, acquisition, construction, improvement and installation of all or any portion of Riverbank Park, for and on behalf of such state agency; and the corporation and any state agency may enter into a contract, lease, easement, license or other instrument pursuant to which the corporation shall make all or any portion of Riverbank Park available to such agency, for use as a park. Any such contract or contracts, lease, easement, license or other instrument shall be upon such terms and conditions as the corporation and the subject state agency shall determine to be reasonable, including, but not limited to, the payment of, or reimbursement to the corporation for, (a) all costs of the corporation in financing the design, acquisition, construction, improvement and installation of all or any portion of Riverbank Park, and any claims arising therefrom, (b) all fees and other charges of, and all expenses incurred by, the corporation in connection with the issuance and administration of any bonds or notes issued by the corporation for such purpose, and

(c)

amounts sufficient to pay all principal, premium, if any, and interest on such bonds or notes. Such payment or reimbursement may be made annually or otherwise, may be in fixed amounts or based on any factors or other matters, or may be made in any other manner, as such contract or contracts shall provide.

2.

Any contract, lease, easement, license or other instrument entered into by the corporation pursuant to subdivision one of this section may be assigned or pledged by the corporation as security for its bonds or notes issued for the purpose of financing the design, acquisition, construction, improvement and installation of all or any portion of Riverbank Park.

3.

The corporation, any state agency, the city of New York or any agency or instrumentality thereof, may enter into any leases, easements, licenses, or other instruments, for the purpose of granting to the corporation any interest in real property which the corporation shall deem necessary for the purpose of financing the design, acquisition, construction, improvement and installation of all or any portion of Riverbank Park.

4.

Notwithstanding the provisions of subdivision one of this section, any contract, lease, easement, license or other instrument entered into by the corporation with any state agency, pursuant to subdivision one of this section, shall (a) provide that the obligation of the state or such state agency to pay the amounts therein provided shall not constitute a debt of the state within the meaning of any constitutional or statutory provision, and

(b)

be deemed executory only to the extent moneys are available, and provide that the obligation of the state or such state agency to make payments thereunder is subject to annual appropriation by the legislature.

Source: Section 1285-K — Financing of the design, acquisition, construction, improvement and installation of Riverbank Park, https://www.­nysenate.­gov/legislation/laws/PBA/1285-K (updated Sep. 22, 2014; accessed Jul. 13, 2024).

1280
Short title
1281
Definitions
1282
New York state environmental facilities corporation
1283
Purposes of the corporation
1284
General powers of the corporation
1285
Special powers of the corporation
1285‑A
Construction, operation and maintenance of air pollution control facilities, water management facilities and storm water collecting systems
1285‑B
Additional special powers of the corporation with respect to projects and persons
1285‑C
Construction, operation and maintenance of industrial hazardous waste treatment, storage and disposal facilities
1285‑D
Studies regarding design, construction and operation of industrial waste treatment, storage and disposal facilities
1285‑E
Inactive hazardous waste disposal site remedial programs
1285‑F
Program for ultimate disposal of hazardous wastes
1285‑G
Industrial materials recycling program
1285‑H
Inactive hazardous waste disposal site remedial programs
1285‑I
Commercial and industrial waste audits
1285‑J
Water pollution control revolving fund
1285‑K
Financing of the design, acquisition, construction, improvement and installation of Riverbank Park
1285‑L
State park infrastructure projects
1285‑M
Drinking water revolving fund
1285‑N
Issuance and sale of recipient bonds and notes
1285‑O
Pipeline for jobs fund
1285‑P
State environmental infrastructure projects
1285‑Q
Financing of hazardous waste site remediation projects
1285‑R
State beginning farmer program
1285‑S
New York state intermunicipal water infrastructure grants program
1285‑T
Water infrastructure emergency financial assistance
1285‑U
Septic system replacement fund
1286
Acquisition and disposition of real property
1287
Construction contracts
1288
Co-operation and assistance of other agencies
1289
Transfer of officers and employees
1290
Notes and bonds of the corporation
1290‑A
Insurance and guarantees
1291
Reserve funds and appropriations
1292
Agreement of the state
1293
Right of state to require redemption of bonds
1294
Remedies of noteholders and bondholders
1295
Notes and bonds as legal investment
1296
Exemption from taxation
1297
Actions against the corporation
1298
Title not affected if in part unconstitutional or ineffective

Accessed:
Jul. 13, 2024

Last modified:
Sep. 22, 2014

§ 1285-K’s source at nysenate​.gov

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