N.Y. Public Authorities Law Section 2799-SS
Additional bonds of the authority

Notwithstanding any provision of this title or of any other law to the contrary, the authority is hereby authorized to issue bonds, notes or other obligations in addition to those authorized by § 2799-GG (Bonds of the authority)section twenty-seven hundred ninety-nine-gg of this title in an amount outstanding of up to two billion five hundred million dollars to pay all costs in the city’s budget (whether or not included or includable in the city’s capital budget) which are, in the judgment of the mayor, related to or arising from the terrorist attack on New York city that occurred on September eleventh, two thousand one. In addition to or in lieu of any revenues or other money that may be paid or payable to the authority, such bonds, notes or other obligations may be secured by and payable from the proceeds of other bonds, notes or other obligations of the authority or federal or state aid related to or arising from the terrorist attack on New York city that occurred on September eleventh, two thousand one. In addition, the authority may issue bonds, notes or other obligations without limitations as to amount, secured solely by and payable solely from such federal or state aid. The city, acting through the mayor, is hereby authorized to assign the right to receive any such federal or state aid to the authority and, after such assignment, the right to receive such aid shall be the property of the authority. Bonds issued pursuant to this section shall have a maximum maturity of up to thirty years.

Source: Section 2799-SS — Additional bonds of the authority, https://www.­nysenate.­gov/legislation/laws/PBA/2799-SS (updated Sep. 22, 2014; accessed Oct. 26, 2024).

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Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 2799-SS’s source at nysenate​.gov

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