N.Y.
Public Authorities Law Section 3670
Miscellaneous provisions
1.
Notwithstanding anything to the contrary in title six-A of article two of the local finance law, neither the county nor any covered organization shall file any petition authorized by such title six-A without the approval of the authority and the state comptroller. No such petition shall be filed as long as any bonds issued by the authority remain outstanding. Failure of the authority or the state comptroller to notify the county or a covered organization within thirty days (or such additional time, not exceeding thirty days, as the authority or state comptroller shall have notified the county or covered organization that it requires to complete its review) after submission to it of a petition shall be deemed to constitute authority or state comptroller approval thereof.2.
Nothing contained in this title shall limit the right of the county or any covered organization to comply with the provisions of any existing contract within or for the benefit of the holders of any bonds or notes of the county or such covered organization.3.
Nothing contained in this title shall be construed to limit the power of the county or a covered organization during any interim finance period to determine, from time to time, within available funds for the county or for such covered organization, the purposes for which expenditures are to be made by the county or such covered organization and the amounts of such expenditures, consistent with the aggregate expenditures then permitted under the financial plan for the county or such covered organization.4.
The authority’s fiscal year shall be January first through December thirty-first.5.
Nothing contained in this title shall alter or modify the right of any town, city or village within the county regarding funding assistance due from the county as authorized pursuant to Tax Law § 1262-E (Establishment of local government assistance programs in Nassau county)section twelve hundred sixty-two-e of the tax law.6.
The authority shall adopt guidelines for procurement contracts in accordance with § 2879 (Procurement contracts)section twenty-eight hundred seventy-nine of this chapter.
Source:
Section 3670 — Miscellaneous provisions, https://www.nysenate.gov/legislation/laws/PBA/3670 (updated Sep. 22, 2014; accessed Oct. 26, 2024).
