N.Y. Pub. Auth. Law § 1285-L

Current through 2024 NY Law Chapter 457

Section 1285-L - State park infrastructure projects

In order to effectuate the purposes of this title, the corporation shall have the following additional special powers:

1. Notwithstanding the provisions of any general or special law to the contrary, the office of parks, recreation and historic preservation or the division of the budget, with the approval of the director of the budget, and the corporation are each hereby authorized to enter into a contract or contracts providing for the financing of the design, acquisition, construction, improvement and installation of all or any portion of any state park infrastructure project or reimbursement to the state for costs incurred in connection with a state park infrastructure project for and on behalf of the state; and the corporation and the office of parks, recreation and historic preservation or the division of the budget, with the approval of the director of the budget, may enter into a contract, lease, easement, license or other instrument pursuant to which the corporation shall make all or any portion of any state park infrastructure project available to such state agency. Any such contract or contracts, lease, easement, license or other instrument shall be upon such terms and conditions as the corporation and the state shall determine to be reasonable, including, but not limited to, the payment of or reimbursement to the corporation for (a) all costs of the corporation in financing all or any portion of any state park infrastructure project, and any claims arising therefrom, (b) all fees and other charges of, and all expenses incurred by, the corporation in connection with the issuance and administration of any bonds or notes issued by the corporation for such purpose, and (c) amounts sufficient to pay all principal, premium, if any, and interest on such bonds or notes. Such payment or reimbursement may be made annually or otherwise, may be in fixed amounts or based on any factors or other matters, or may be made in any other manner, as such contract or contracts, lease, easement, license or other instrument shall provide. Provided, however, that the net proceeds of any such bonds or notes issued shall not exceed sixteen million dollars, not including issuance costs, capitalized interest and debt service reserve funds.

2. Any such contract or contracts, lease, easement, license or other instrument entered into pursuant to subdivision one of this section shall provide that the obligation of the state to fund or to pay the amounts therein provided for shall not constitute a debt of the state within the meaning of any constitutional or statutory provision and shall be deemed executory only to the extent of moneys available therefor and that no liability shall be incurred by the state beyond the moneys available for such purpose, and that such obligation is subject to annual appropriation by the legislature.

3. Any such contract or contracts, lease, easement, license or other instrument or any payments made or to be made thereunder may be assigned and pledged by the corporation as security for its bonds and notes issued for the purpose of financing all or any part of any state park infrastructure project.

4. The corporation and the office of parks, recreation and historic preservation or the division of the budget, with the approval of the director of the budget, may enter into any leases, easements, licenses or other instruments for the purpose of granting to the corporation any interest in real property which the corporation shall deem necessary for the purpose of financing the design, acquisition, construction, improvement and installation of all or any portion of any state park infrastructure project. The corporation shall hold any such interest in real property in trust for the state, shall make and keep such properties accessible to the public, and shall not sell, lease, exchange or donate such properties except to the state.

5. The comptroller is hereby authorized to receive from the corporation any portion of special obligation bond proceeds paid to provide funds for or reimburse the state for its costs associated with any state park infrastructure project and to credit such amounts to the capital projects fund or any other appropriate fund.

N.Y. Pub. Auth. Law § 1285-L