N.Y. Public Authorities Law Section 1694
Termination of authority

1.

The authority shall continue to operate and manage each such dormitory until such time as its liabilities thereon have been met and the bonds outstanding against such dormitory have been paid in full or such liabilities or bonds have otherwise been discharged. Thereupon, the jurisdiction of the authority over such dormitory shall cease and all the real and personal property and the title to all of the real and personal property of such dormitory vested in the authority shall pass to the state of New York and the management and authority shall thereafter be under rules and regulations of the commissioner of education approved by the regents.

2.

The authority and its corporate existence shall continue until terminated by law, provided, however, that no such law shall take effect so long as the authority shall have bonds, notes and other obligations outstanding, unless adequate provision has been made for the payment thereof. Upon termination of the existence of the authority, all of its rights and properties shall pass to and be vested in the state.

Source: Section 1694 — Termination of authority, https://www.­nysenate.­gov/legislation/laws/PBA/1694 (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
Green check means up to date. Up to date

Accessed:
Dec. 21, 2024

Last modified:
Sep. 22, 2014

§ 1694’s source at nysenate​.gov

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