N.Y.
Public Authorities Law Section 153-B
Further additional powers of the authority
1.
To construct an extension of Meadowbrook state parkway from the Southern state parkway to the Northern state parkway with incidental roads, structures, facilities and bridges and to maintain, reconstruct and operate such extension;2.
To reconstruct, widen and otherwise improve and thereafter maintain, reconstruct and operate (a) Southern state parkway, together with incidental parkway facilities now existing or hereafter constructed, on and along said parkway, from and including a connection with the Belt parkway to Wantagh avenue and to acquire real property and rights therein for future widening of Southern state parkway between Wantagh avenue and the easterly boundary of Nassau county, (b) Meadowbrook state parkway from Merrick road to the Southern state parkway, and(c)
Wantagh state parkway from Merrick road to the Southern state parkway;3.
To construct, reconstruct, improve and thereafter maintain and operate facilities such as gasoline, comfort, repair and storage stations and other similar facilities along the route of the extension of Meadowbrook state parkway referred to in paragraph one of this section and the parts of the parkways referred to in paragraph two of this section, to contract for such construction, and to lease the right to construct and use such facilities on such terms and for such consideration as it shall determine, provided, however, that no lease be made for a period of more than ten years from the date when it is made;4.
To construct and maintain over, under, along or across the extension of Meadowbrook state parkway referred to in paragraph one of this section and the parts of the parkways referred to in paragraph two of this section, telephone, telegraph or electric wires and cables, gas mains, water mains, and other mechanical equipment not inconsistent with park or parkway purposes; to contract for such construction and to lease the right to construct and/or use the same on such terms and for such consideration as it shall determine, provided, however, that no lease shall be made for a period of more than ten years from the date when it is made. The authority shall also have power to grant, with respect to any real property under its jurisdiction, on such terms and conditions and under such regulations and restrictions as the authority shall deem just and proper, licenses or easements to any governmental agency of the state of New York or to any municipal corporation, public district or governmental agency thereof, or to the United States of America or any governmental agency thereof for any public purposes and in addition thereto may grant licenses or easements to individuals, partnerships and corporations for drainage facilities, sewers, water and gas mains, electric and telephone conduits, and railroad facilities. The authority shall also have power to sell, exchange or otherwise dispose of any real property or interest therein acquired at the cost and expense of the authority pursuant to the exercise of the powers granted by § 158-B (Acquisition of real property)section one hundred fifty-eight-b of this title which is not necessary for its corporate purposes or whenever the board shall determine that it is in the interest of the authority to do so. The proceeds of any such sale shall be paid to the authority and applied to its corporate purpose.5.
To charge tolls for the use of the part of Southern state parkway improved by the authority subject to and in accordance with any agreements with bondholders made as hereinafter provided. The toll shall be ten cents unless the revenues from such tolls and the income from the facilities authorized by the foregoing provisions of this section are insufficient to meet all obligations of such agreements and to pay the costs of operating and maintaining the parkways and facilities operated and maintained by the authority pursuant to the foregoing provisions of this section. The revenue from such tolls and the income from such facilities shall be used only to meet such obligations and to pay the cost of constructing, reconstructing, operating and maintaining such parkways and facilities;6.
To pledge the tolls from the Southern state parkway and any other revenues from the parkways operated and maintained by the authority pursuant to this section;7.
From time to time to issue bonds in the aggregate principal amount of forty million dollars for any or all of the following purposes and purposes incidental thereto:(a)
purposes authorized by section one hundred fifty-three-b;(b)
reconstructing, widening and otherwise improving Meadowbrook parkway from Merrick road to Jones Beach state park, Wantagh parkway from Merrick road to Jones Beach state park and Loop parkway;(c)
constructing additional parking facilities on Jones Beach at a total cost of not exceeding one million two hundred fifty thousand dollars; and(d)
the payment of all costs and expenses incidental to the issuance of such bonds, including interest during construction. Such bonds shall mature not later than forty years from January first, nineteen hundred fifty-four, and the authority shall not have power to refund the issuance of such bonds. The authority shall have power to employ financial advisors in connection with the issuance of such bonds. No revenues or moneys of the authority, other than the tolls and other revenues from the Southern state parkway and the proceeds from the sale of the bonds, shall be pledged for or shall be applicable to the payment of such bonds. All the provisions of this title relating to bonds which are not inconsistent with the provisions of this section, shall apply to the bonds authorized by this section except section one hundred fifty-eight and subdivisions two and three of section one hundred fifty-eight-a. The authority also shall have power from time to time in anticipation of the issuance of bonds pursuant to this section to borrow money on bank loans and to evidence such loans by notes or otherwise. Such loans and notes shall be subject to the same provisions of this title as relates to bonds issued pursuant to this section;8.
Bonds issued pursuant to this section shall be sold at public sale, upon sealed bids publicly opened and read, to the bidder who shall offer the lowest interest cost to the authority, or if the authority shall so determine, at the highest price. The notice of sale shall be published at least once, not less than seven nor more than thirty days before the date of sale, in a financial newspaper published and circulated in the city of New York. Such notice shall contain a statement of the time and place where all bids received in pursuance of such notice will be publicly opened and read. Such bonds shall be sold for a price not less than ninety-eight per centum of the par value thereof, plus accrued interest. The provisions of this subdivision shall not apply to notes of the authority issued pursuant to subdivision seven of this section;9.
Notwithstanding and in addition to any provisions for the redemption of bonds issued pursuant to this section which may be contained in any contract with the holders of such bonds, the state of New York may, upon furnishing sufficient funds therefor, require the authority to redeem, prior to maturity, as a whole, any issue of such bonds on any interest payment date not less than five years after the date of the bonds of such issue at one hundred five per centum of their face value and accrued interest or at such lower redemption price as may be provided in the bonds in case of the redemption thereof as a whole on the redemption date. Notice of such redemption shall be published at least twice in at least two newspapers published and circulated respectively in the county of Nassau and city of New York, the first publication to be at least thirty days before the date of redemption;10.
The authority shall have the right to possess and use for its corporate purposes the extension of Meadowbrook state parkway referred to in paragraph one of this section and the parts of the parkways referred to in paragraph two of this section, together with necessary facilities now existing or hereafter constructed on or along said parkways. Policing of the parkways and other facilities of the authority shall continue to be the responsibility of the force of park patrolmen under the direction of the commission. Such possession and use by the authority shall continue until its liabilities for such parkways and facilities have been met and the bonds authorized by this section have been paid in full or such liabilities having otherwise been discharged. Thereafter such parkways and facilities shall pass to the state and become subject to the jurisdiction of the commission;11.
All contracts involving payments of more than five thousand dollars, except for professional or financial advisory services or in connection with the issuance of bonds or notes, shall be let to the lowest responsible bidder by sealed proposals publicly opened after public notice published at least once in the official newspapers of Nassau county, at least ten days prior to the day on which sealed proposals are to be opened; provided, however, the authority may reject any and all proposals and may advertise for new proposals as above provided if in its opinion the best interests of the authority will thereby be promoted. * NB (Authority abolished June 30, 1978)
Source:
Section 153-B — Further additional powers of the authority, https://www.nysenate.gov/legislation/laws/PBA/153-B (updated Sep. 22, 2014; accessed Oct. 26, 2024).
