New York Laws
Title 4 - Dormitory Authority
1680-J*2 - Authorization for the Issuance of Bonds for the Health Care Efficiency and Affordability Law for New Yorkers (Heal Ny) Capital Grant Program.

* § 1680-j. Authorization for the issuance of bonds for the health
care efficiency and affordability law for New Yorkers (HEAL NY) capital
grant program. Notwithstanding any other provision of law to the
contrary, the dormitory authority of the state of New York is hereby
authorized to issue bonds or notes in one or more series in an aggregate
principal amount not to exceed seven hundred fifty million dollars
excluding bonds issued to fund one or more debt service reserve funds,
to pay costs of issuance of such bonds, and bonds or notes issued to
refund or otherwise repay such bonds or notes previously issued, for the
purposes of financing project costs authorized under section
twenty-eight hundred eighteen of the public health law. Of such seven
hundred fifty million dollars, ten million dollars shall be made
available to the community health centers capital program established
pursuant to section twenty-eight hundred seventeen of the public health
law.

1. Such bonds and notes of the dormitory authority shall not be a debt
of the state and the state shall not be liable thereon, nor shall they
be payable out of any funds other than those appropriated by the state
to the authority for debt service and related expenses pursuant to any
service contract executed pursuant to subdivision two of this section,
and such bonds and notes shall contain on the face thereof a statement
to such effect. Except for purposes of complying with the internal
revenue code, any interest income earned on bond proceeds shall only be
used to pay debt service on such bonds. All of the provisions of the
dormitory authority act relating to bonds and notes which are not
inconsistent with the provisions of this section shall apply to
obligations authorized by this section, including but not limited to the
power to establish adequate reserves therefore and to issue renewal
notes or refunding bonds thereof. The issuance of any bonds or notes
hereunder shall further be subject to the approval of the director of
the division of the budget, and any projects funded through the issuance
of bonds or notes hereunder shall be approved by the New York state
public authorities control board, as required under section fifty-one of
this chapter.

2. Notwithstanding any other law, rule or regulation to the contrary,
in order to assist the dormitory authority in undertaking the
administration and financing of projects authorized under this section,
the director of the budget is hereby authorized to enter into one or
more service contracts with the dormitory authority, none of which shall
exceed more than thirty years in duration, upon such terms and
conditions as the director of the budget and the dormitory authority
agree, so as to annually provide to the dormitory authority, in the
aggregate, a sum not to exceed the annual debt service payments and
related expenses required for the bonds and notes issued pursuant to
this section. Any service contract entered into pursuant to this
subdivision shall provide that the obligation of the state to pay the
amount therein provided 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 monies available and that no
liability shall be incurred by the state beyond the monies available for
such purposes, subject to annual appropriation by the legislature. Any
such contract or any payments made or to be made thereunder may be
assigned or pledged by the dormitory authority as security for its bonds
and notes, as authorized by this section.

3. Notwithstanding any law to the contrary, and in accordance with
section four of the state finance law, the comptroller is hereby
authorized and directed to transfer from the health care reform act
(HCRA) resources fund (061) to the general fund, upon the request of the

director of the budget, up to $6,500,000 on or before March 31, 2006,
and the comptroller is further hereby authorized and directed to
transfer from the healthcare reform act (HCRA); Resources fund (061) to
the Capital Projects Fund, upon the request of the director of budget,
up to $139,000,000 for the period April 1, 2006 through March 31, 2007,
up to $171,100,000 for the period April 1, 2007 through March 31, 2008,
up to $208,100,000 for the period April 1, 2008 through March 31, 2009,
up to $151,600,000 for the period April 1, 2009 through March 31, 2010,
up to $215,743,000 for the period April 1, 2010 through March 31, 2011,
up to $433,366,000 for the period April 1, 2011 through March 31, 2012,
up to $150,806,000 for the period April 1, 2012 through March 31, 2013,
up to $78,071,000 for the period April 1, 2013 through March 31, 2014,
and up to $86,005,000 for the period April 1, 2014 through March 31,
2015, and up to $86,005,000 for the period April 1, 2015 through
December 31, 2017.

* NB There are 2 § 1680-j's

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