N.Y.
Public Authorities Law Section 2435-A
Special program agreements
(1)
In order to fulfill the purposes of this title and to provide a means by which the special program municipalities may (a) receive moneys to refund certain property taxes determined to be in excess of state constitutional tax limits or to reimburse the special program municipalities for the prior refunding of such taxes or (b) receive moneys to be applied to the cost of settling litigation involving the city school districts of special program municipalities and the teachers’ unions in such special program municipalities, or(c)
receive moneys for the financing of public improvements to be applied to the cost of the reconstruction, rehabilitation or renovation of an educational facility pursuant to the provisions of subdivision (b) of section sixteen of chapter six hundred five of the laws of two thousand, or(d)
receive moneys for the financing of public improvements to be applied to the cost of a project for design, reconstruction or rehabilitation of a school building pursuant to the provisions of section fourteen of the city of Syracuse and the board of education of the city school district of the city of Syracuse cooperative school reconstruction act, or(e)
receive moneys for the financing of public improvements to be applied to the cost of a project for design, reconstruction or rehabilitation of a school building, or the construction of a new school building, pursuant to the provisions of section twelve of the Yonkers city school district joint schools construction and modernization act, and notwithstanding any general or special law to the contrary, the agency and each special program municipality are hereby authorized to enter into one or more special program agreements, which special program agreements shall, consistent with the provisions of this title, contain such terms, provisions and conditions as, in the judgment of the agency, shall be necessary or desirable. Each special program agreement shall specify the amount to be made available to the respective special program municipality from the proceeds of an issue of special program bonds and shall require such special program municipality, subject to appropriation by the appropriate legislative body of such special program municipality, to make payments to the agency in the amounts and at the times determined by the agency to be necessary to provide for payment of such issue of special program bonds and such other fees, charges, costs and other amounts as the agency shall in its judgment determine to be necessary or desirable.(2)
Any special program agreement entered into pursuant to subdivision one of this section shall provide that the obligation of the special program municipality executing such special program agreement to fund or pay the amounts therein provided for shall not constitute a debt of such special program municipality within the meaning of any constitutional or statutory provision and shall be deemed executory only to the extent of moneys available and that no liability shall be incurred by such special program municipality beyond the moneys available for the purpose, and that such obligation is subject to annual appropriation by the appropriate legislative body of such special program municipality.
Source:
Section 2435-A — Special program agreements, https://www.nysenate.gov/legislation/laws/PBA/2435-A (updated Dec. 2, 2016; accessed Oct. 26, 2024).
