Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 16, 2010 |
referred to rules |
Senate Bill S8218
2009-2010 Legislative Session
Sponsored By
(D, IP) Senate District
Archive: Last Bill Status - In Senate Committee Rules Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2009-S8218 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9470
- Current Committee:
- Senate Rules
- Law Section:
- Public Authorities Law
- Laws Affected:
- Amd ยง1680-k, Pub Auth L
2009-S8218 (ACTIVE) - Sponsor Memo
BILL NUMBER:S8218 TITLE OF BILL: An act to amend the public authorities law, in relation to projects at the New York state fair SUMMARY OF SPECIFIC PROVISIONS: This bill would expand the New York state Dormitory Authority's authorization to assist in the development of construction projects at the New York State Fairgrounds, specifically related to culinary and hospitality education facilities. JUSTIFICATION: This bill would authorize the Dormitory Authority to bond for the financing of construction projects related to the establishment of culinary and hospitality education facilities at the New York State Fairgrounds. Such facilities, where students in the culinary and hospitality industries can acquire hands-on experience in the context of large public events, would certainly be a plus for students statewide enrolled in such programs and the Fairgrounds alike. Intended as a long-term initiative, stakeholders have begun to map out
2009-S8218 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8218 I N S E N A T E June 16, 2010 ___________ Introduced by Sen. AUBERTINE -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the public authorities law, in relation to projects at the New York state fair THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 1680-k of the public authorities law is amended by adding a new subdivision 3 to read as follows: 3. (A) NOTWITHSTANDING THE PROVISIONS OF ANY OTHER LAW TO THE CONTRA- RY, THE AUTHORITY IS HEREBY AUTHORIZED TO ISSUE BONDS OR NOTES IN ONE OR MORE SERIES FOR THE PURPOSE OF FUNDING PROJECT COSTS FOR THE CONSTRUCTION OF CULINARY AND HOSPITALITY EDUCATION FACILITIES BY THE DIVISION OF THE STATE FAIR. THE AGGREGATE PRINCIPAL AMOUNT OF BONDS AUTHORIZED TO BE ISSUED PURSUANT TO THIS SUBDIVISION SHALL NOT EXCEED TWENTY 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 PREVI- OUSLY ISSUED. SUCH BONDS AND NOTES OF THE 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 PRINCIPAL, INTEREST, AND RELATED EXPENSES PURSUANT TO A SERVICE CONTRACT 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. (B) NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE CONTRARY, IN ORDER TO ASSIST THE AUTHORITY IN UNDERTAKING THE FINANCING OF THE CONSTRUCTION OF CULINARY AND HOSPITALITY EDUCATION FACILITIES BY THE DIVISION OF THE STATE FAIR, THE DIRECTOR OF THE BUDGET IS HEREBY AUTHOR- IZED TO ENTER INTO ONE OR MORE SERVICE CONTRACTS WITH THE AUTHORITY, NONE OF WHICH SHALL EXCEED THIRTY YEARS IN DURATION, UPON SUCH TERMS AND CONDITIONS AS THE DIRECTOR OF THE BUDGET AND THE AUTHORITY AGREE, SO AS TO ANNUALLY PROVIDE TO THE AUTHORITY, IN THE AGGREGATE, A SUM NOT TO EXCEED THE PRINCIPAL, INTEREST, AND RELATED EXPENSES REQUIRED FOR SUCH EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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