N.Y. Public Authorities Law Section 1867-A
Federal insurance or guaranty

  • taxable bond option

(a)

The authority is authorized to obtain from any department or agency of the United States of America or non-governmental insurer any insurance or guaranty, to the extent now or hereafter available, as to, or of, or for the payment or repayment of interest or principal, or both, or any part thereof, on any bonds or notes issued by the authority, or on any municipal obligations of governmental units or cooperatives purchased or held by the authority; and to enter into any agreement or contract with respect to any such insurance or guaranty, except to the extent that the same would in any way impair or interfere with the ability of the authority to perform and fulfill the terms of any agreement made with the holders of the bonds or notes of the authority.

(b)

The authority may covenant and consent that the interest on certain of its bonds shall be includible, under the Internal Revenue Code of 1954 or any subsequent corresponding internal revenue law of the United States, in the gross income of the holders of the bonds to the same extent and in the same manner that the interest on bills, bonds, notes or other obligations of the United States is includible in the gross income of the holders thereof under said Internal Revenue Code or any such subsequent law.

Source: Section 1867-A — Federal insurance or guaranty; taxable bond option, https://www.­nysenate.­gov/legislation/laws/PBA/1867-A (updated Sep. 22, 2014; accessed Oct. 26, 2024).

1850
Short title
1850‑A
Legislative declaration
1851
Definitions
1852
New York state energy research and development authority
1853
Approval power of the governor
1854
Purposes and specific powers of the authority
1854‑A
Nuclear waste repository siting
1854‑B
Low-level radioactive waste management facilities
1854‑C
Permanent disposal facilities
1854‑D
Generator reporting and fees
1855
General powers of the authority
1856
Acquisition of real property
1857
Officers and employees
1858
Assistance by state officers, departments, boards, divisions and commissions
1859
Deposit, investment and accounting of moneys of the authority
1860
Bonds and notes
1860‑A
Reserve funds and appropriations
1861
Exemption from taxation of the property and income of the authority
1862
Exemption from taxation of bonds and notes
1863
Bonds and notes legal investments for fiduciaries
1864
Right of state to require redemption of bonds
1865
Rights and remedies of bondholders and noteholders
1866
State not liable on bonds and notes
1867
Annual reports
1867‑A
Federal insurance or guaranty
1868
Inconsistent provisions of other acts
1868‑A
Actions
1869
Termination of the authority
1870
Title not affected if in part unconstitutional or ineffective
1871
Public service law not applicable to authority
1872
Green residential building program
1872‑A
Affordable residential green building program
1873
Examination and reporting of energy efficiency grant recipients
1875
Legislative findings and declaration of intent
1876
High temperature technology research program established
1877
Purposes of the high temperature technology research program
1878
State coordination, oversight and technology transfer
1879
Funds
1880
Legislative findings and declaration of intent
1881
High phase order electric transmission research project
1882
School energy efficiency collaboration program
1883
State oversight and funding
1884
Zero-emission bus roadmap

Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 1867-A’s source at nysenate​.gov

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