N.Y. Public Authorities Law Section 1295
Notes and bonds as legal investment


The notes and bonds of the corporation 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 corporation 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 1295 — Notes and bonds as legal investment, https://www.­nysenate.­gov/legislation/laws/PBA/1295 (updated Sep. 22, 2014; accessed May 11, 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:
May 11, 2024

Last modified:
Sep. 22, 2014

§ 1295’s source at nysenate​.gov

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