ยง 219-c. Additional powers of certain authorities. An authority
operating in a city having more than one million inhabitants shall have
the following powers in addition to the other powers granted by this
chapter:
1. Prepare or arrange for preparation of plans for, acquire,
construct, lease, carry out, manage, operate and dispose of emergency
projects, and with regard to emergency projects shall have and exercise,
except as in this article otherwise expressly provided, all the powers,
rights and privileges granted to an authority under this chapter in
reference to any project of an authority, but without regard to the
limitations prescribed by sections ninety-seven, one hundred fifty, one
hundred fifty-one, one hundred fifty-five, and one hundred fifty-six of
this chapter.
2. Act as agent for, or enter into contracts and otherwise cooperate
with a government in connection with emergency projects.
3. Issue bonds and notes for the purposes of this article in
accordance with the powers granted under article three of this chapter,
except that such bonds may be issued for periods not exceeding the
probable life of the emergency project for which they are issued, which
probable life is hereby determined to be ten years. The powers granted
by this section shall include the power of such authority to issue its
bonds or notes to finance all or any part of the development and
operation of emergency projects which a city has undertaken by contract
with a government, and as to which the authority will act as agent or
lessee for the city, notwithstanding that the city agrees to reimburse
the authority for all or any part of the development and operation of
the emergency project.
4. Issue refunding bonds for the purpose of paying or retiring bonds
previously issued by it for emergency projects but no such refunding
bonds shall have a maturity date later than the end of the probable life
of the emergency project for which they are issued.
Structure New York Laws