New York Laws
Title 19 - New York State Sports Authority
2467 - Bond and Note Authorization.

(a) pledging all or any part of the moneys, earnings, income and
revenues derived from the project to secure the payment of the bonds or
of any issue of the bonds, subject to such agreements with bondholders
as may then exist;
(b) the payments, fees or other charges to be fixed, established and
collected and the amounts to be raised in each year thereby, and the use
and disposition of the moneys, earnings, income and other revenues;
(c) the setting aside of reserves and the creation of sinking funds
and the regulation and disposition thereof;
(d) limitations on the right of the authority to restrict and regulate
the use of a sports facility or sports facilities;
(e) limitations on the purposes to which and the manner in which the
proceeds of sale of any bonds or any issue of bonds may be applied;
(f) limitations on the issuance of additional bonds, the terms upon
which additional bonds may be issued and secured; and the refunding of
outstanding bonds or other bonds;
(g) the procedure, if any, by which the terms of any contract with
bondholders may be amended or abrogated, the amount of bonds the holders
of which must consent thereto, and the manner in which such consent may
be given;
(h) the creation of special funds into which any earnings or revenues
of the authority may be deposited;
(i) the terms and provisions of any mortgage or trust deed or
indenture securing the bonds or under which the bonds may be issued;
(j) vesting in a trustee or trustees such properties, rights, powers
and duties in trust as the authority may determine which may include any
or all of the rights, powers and duties of the trustee appointed by the
bondholders pursuant to section twenty-four hundred seventy-five of this
title, and limiting or abrogating the right of the bondholders to
appoint a trustee under such section or limiting the rights, powers and
duties of such trustee;
(k) defining the acts or omissions to act which shall constitute a
default in the obligations and duties of the authority to the
bondholders and providing the rights and remedies of the bondholders in
the event of such default, including as a matter of right the
appointment of a receiver, provided, however, that such rights and
remedies shall not be inconsistent with the general laws of this state
and other provisions of this title;
(l) limitations on the power of the authority to sell or otherwise
dispose of its properties;
(m) limitations on the amount of moneys derived from a sports facility
or sports facilities to be expended for operating, administrative and
other expenses of the authority;
(n) the protection and enforcement of the rights and remedies of the
bondholders;
(o) the obligations of the authority in relation to the construction,
maintenance, operation, repairs and insurance of a sports facility or
sports facilities and the safeguarding and application of all moneys;
(p) the payment of the proceeds of bonds and revenues of a sports
facility or sports facilities to a trustee or other depositary, and for
the method of disbursement thereof and such safeguards and restrictions
as the authority may determine;
(q) any other matters, of like or different character which may in any
way affect the security or protection of the bonds.
* NB (Disbanded March, 1980)