N.Y.
Racing, Pari-Mutuel Wagering and Breeding Law Section 609
Contracts of corporation
1.
The corporation shall let contracts for construction or any other work, including the furnishing of materials or supplies incident thereto, and contracts for the purchase or procurement of equipment, materials or supplies:(i)
in the manner provided by law with respect to the letting of such contracts by the state, except that where the estimated expense of a contract does not exceed ten thousand dollars, such contract may be entered into without public letting, provided however, that where the corporation determines with respect to any contract that it would not be in the public interest to comply with this section and the office of general services, concurs in such determination, then it may enter into such contract without public letting as authorized; or(ii)
in the manner provided in § 507 (Contracts of corporations)section five hundred seven of this chapter, if in conjunction with one or more regional off-track betting corporations.2.
The corporation may make rules and regulations governing the qualifications of bidders entering into such a contract where the cost of such a contract exceeds ten thousand dollars. The bidding may be restricted to those who shall have qualified prior to the receipt of bids according to standards fixed by the corporation; provided, however, that notice or notices for the submission of qualifications shall be published in the state register and in an appropriate trade journal published in the state, at least once, not less than ten days prior to the date fixed for the filing of qualifications.3.
It shall be a misdemeanor for a director of the corporation or an officer, agent, executive or other employee retained, employed or appointed by the corporation to be in any manner or way interested, directly or indirectly, as principal, surety or otherwise in a contract, the expense or consideration whereof is payable out of funds of the corporation. The corporation shall be subject to procurement lobbying as provided in sections one hundred thirty-nine-j and one hundred thirty-nine-k of the state finance law.
Source:
Section 609 — Contracts of corporation, https://www.nysenate.gov/legislation/laws/PML/609 (updated Sep. 22, 2014; accessed Dec. 21, 2024).
