ยง 24. Corporation for the benefit of the city of New York. 1.
Notwithstanding any provision of state or local law, the city of New
York is hereby authorized to provide for the creation of a single
not-for-profit corporation subject to section fourteen hundred eleven of
the not-for-profit corporation law, except to the extent that such
section is inconsistent with this section, which corporation shall have
the purpose, among others, of financing or refinancing costs arising
from or related to the closing of Freshkills landfill.
2. Such corporation shall have the authority to issue and sell one or
more series or classes of bonds, notes and other obligations from time
to time on behalf of the city of New York to finance or refinance costs
relating to the closure of the Freshkills Landfill. Such bonds, notes
and other obligations shall not constitute a debt or indebtedness of
such city and, together with the income therefrom, shall be exempt from
taxation, except for transfer and estate taxes.
3. The incorporation of TSASC, Inc. under section fourteen hundred
eleven of the not-for-profit corporation law, and the approval of
articles of incorporation and bylaws for such corporation, are hereby
ratified and shall be deemed to meet the requirements of this section,
notwithstanding that such requirements were enacted after such creation
and approval, and such corporation shall be treated for all purposes as
if it had been formed by and pursuant to the provisions of this section.
TSASC, Inc. shall be deemed to be the corporation formed pursuant to the
authorization provided in subdivision one of this section.
4. The provisions of this section shall not be deemed or construed to
alter or impair any other power of the city of New York to provide for
the creation of not-for-profit corporations pursuant to any other
applicable provision of law, but shall be in addition to any other such
power.
Structure New York Laws
Article 2 - General Municipal Finances
3-A - Rate of Interest on Judgments and Accrued Claims Against Municipal Corporations.
3-B - Limitation on Real Estate Tax in New York City.
3-C - Limit Upon Real Property Tax Levies by Local Governments.
4 - Investigation of Expenditures of Towns and Villages.
5-A - Electronic or Wire Transfers.
6-E - Contingency and Tax Stabilization Reserve Fund for Municipal Corporations.
6-F - Snow and Ice Removal and Road Repair Reserve Funds for Municipal Corporations.
6-G - Capital Reserve Funds for Fire Districts.
6-I - Airport Development and Amortization Funds.
6-J - Workmen's Compensation Reserve Fund.
6-K - Electric Utility Depreciation Reserve Funds.
6-L - Mandatory Reserve Fund for Municipal Corporations, Fire Districts and School Districts.
6-M - Unemployment Insurance Payment Reserve Fund.
6-O - Solid Waste Management Facility Reserve Funds.
6-P - Employee Benefit Accrued Liability Reserve Fund.
6-Q - Intermunicipal Agreement for a Joint Capital Reserve Fund in the County of Tompkins.
6-R - Retirement Contribution Reserve Funds
6-S - Community Preservation Funds.
6-T - Charitable Gifts Reserve Fund.
6-U - Charitable Gifts Reserve Fund.
6-V - Asset Forfeiture Escrow Fund.
7 - Payment of Municipal Bonds.
8 - Application of Revenues of a Public Improvement or Part Thereof, or Service.
9 - Use of Tax Moneys Raised Outside Constitutional Tax Limit.
10 - Deposits of Public Money; Security.
12 - Deposits of Public Authorities, Public Benefit Corporations and Other Corporations.
20 - Special Population Census: Population Data.
21 - Cancellation of Unpaid Checks or Drafts.
22 - Claims Against Fire Insurance Proceeds; Procedure.
23 - Flexible Benefits Program.