N.Y. Public Authorities Law Section 1679-C
The New York higher education loan program


1.

For purposes of this section, the following words and terms shall have the following meaning unless the context shall indicate another or different meaning or intent:

(a)

“Corporation” shall mean the New York state higher education services corporation.

(b)

“Education loan” shall mean a loan made under the New York higher education loan program established pursuant to part v of article fourteen of the education law.

2.

In addition to the powers of the authority pursuant to the other sections of this title, the authority shall have power:

(a)

To enter into one or more agreements with the corporation, which agreement may provide for the securing of education loans in accordance with part V of article fourteen of the education law, and to perform or contract for the performance of its obligations under any such agreement;

(b)

To make and contract to make and to acquire and contract to acquire education loans and to enter into advance commitments for the purchase of said education loans;

(c)

Subject to any agreement with bondholders or noteholders, to invest moneys of the authority not required for immediate use, including proceeds from the sale of any bonds or notes, in education loans;

(d)

To service and execute contracts for the servicing of education loans acquired by the authority pursuant to this title, and to pay the reasonable value of services rendered to the authority pursuant to those contracts;

(e)

To prescribe standards and criteria for education loans purchases, insofar as such standards and criteria are not inconsistent with the applicable agreement with the corporation;

(f)

Subject to any agreement with bondholders or noteholders, to sell any education loans made or acquired by the authority at public or private sale and at such price or prices and on such terms as the authority shall determine; and

(g)

To establish, revise from time to time, charge and collect such premiums or fees in connection with education loans and its participation in the New York higher education loan program as the authority shall determine.

3.

The authority shall have the power and is hereby authorized from time to time to issue bonds and notes, including without limitation for the purposes of financing and refinancing education loans and of refunding any bonds or notes issued for such purpose pursuant to part V of article fourteen of the education law.

Source: Section 1679-C — The New York higher education loan program, https://www.­nysenate.­gov/legislation/laws/PBA/1679-C (updated Sep. 22, 2014; accessed Dec. 21, 2024).

1675
Short title
1676
Definitions
1676‑A
Payment on authority public work projects
1677
Dormitory Authority
1678
Powers of the authority
1679
Supplemental higher education loan financing program
1679‑A
Health education assistance loan financing program
1679‑B
Equipment loans
1679‑C
The New York higher education loan program
1680
Dormitories at certain educational institutions other than state operated institutions and statutory or contract colleges under the juris...
1680‑A
Judicial facilities in certain counties
1680‑B
Court facilities and combined occupancy structures
1680‑C
Creation of the court facilities capital review board
1680‑D
Sale of bonds by the authority
1680‑E
State university athletic facilities
1680‑F
Roswell Park Cancer Institute development account
1680‑G
Child care facilities development program
1680‑H
Sale of bonds by the authority
1680‑I
Judiciary
1680‑J
New York state higher education capital matching grant board
1680‑J*2
Authorization for the issuance of bonds for the health care efficiency and affordability law for New Yorkers (HEAL NY) capital grant program
1680‑K
Financing of department of agriculture and markets facilities
1680‑L
The special disability fund financing
1680‑M
Cultural education facilities
1680‑N
Acquisition of state buildings and other facilities
1680‑O
Courthouse improvements and training facilities
1680‑P
Longitudinal data system
1680‑Q
State university of New York dormitory facilities
1680‑Q*2
Self-insured bond financing
1680‑R
Authorization for the issuance of bonds for the capital restructuring financing program, the health care facility transformation programs...
1681
Moneys of the authority
1681‑A
Distribution of board materials
1682
Bonds of the authority
1682‑A
Financial monitoring
1683
State not liable on bonds
1684
Bonds legal investments for fiduciaries
1685
Exemptions from taxation
1686
Remedies of bondholders
1686‑A
Security by authority
1687
Members and employees not to profit
1688
Visitation by regents
1689
Board of cooperative educational services school facilities
1689‑A
Public school districts
1689‑B
Sale of bonds by the authority
1689‑C
Capital facility program, authority financing of eligible projects
1689‑D
Bidding requirements
1689‑E
Biomedical facilities program, authority financing of eligible projects
1689‑F
Public school districts
1689‑G
Local government infrastructure
1689‑H
Expedited deployment funding
1689‑I
Library construction
1689‑I*2
Public school districts
1690
Contract of the state
1691
Actions against authority
1693
Title not affected if in part unconstitutional or ineffective
1694
Termination of authority

Accessed:
Dec. 21, 2024

Last modified:
Sep. 22, 2014

§ 1679-C’s source at nysenate​.gov

Link Style