* ยง 2473. State aid guarantee; withholding thereof. 1. In the event
that a participating municipality fails to make its required payment, in
whole or in part, to the authority, the chairman of the authority shall
certify to the comptroller that such municipality has failed to meet its
obligations. Such certificate shall be in such form as the authority
deems desirable, but shall include the exact amount of payment required
to satisfy such municipality's obligation to the authority.
2. The comptroller, upon receipt of such certificate from the
authority, shall withhold from the city, county, town or village or, in
the event the participating municipality is a public benefit corporation
from the city, county, town or village on whose behalf such corporation
was created, state aid payable to such city, county, town or village to
the extent necessary to meet the required amount of payments. The
comptroller shall immediately pay over to the sports facilities income
fund account the amount so withheld.
* NB (Disbanded March, 1980)
Structure New York Laws
Article 8 - Miscellaneous Authorities
Title 19 - New York State Sports Authority
2463 - New York State Sports Authority.
2464 - General Powers of the Authority.
2465 - Plans for Sports Facilities.
2466 - The Acquisition of Real Property.
2467 - Bond and Note Authorization.
2468 - Bonds and Notes of the Authority.
2469 - Security for Bonds or Notes; Construction and Acquisition of Sports Facilities.
2470 - Resources of Authority.
2473 - State Aid Guarantee; Withholding Thereof.
2474 - Extraordinary Conditions Provision.
2475 - Remedies of Bondholders and Noteholders.
2476 - State and Municipalities Not Liable on Bonds and Notes.
2477 - Agreement of the State.
2479 - Exemption From Taxation of Bonds and Notes.
2480 - Bonds and Notes as Legal Investments for Public Officers and Fiduciaries.
2482 - Limitation of Liability.
2483 - Assistance by State Officers, Departments, Boards and Commissions.
2485 - Court Proceedings; Preferences; Venue.