§ 345. Execution of contracts. (a) The secretary of state, or his
designee, on behalf of the state, and the endorsing municipality may
execute a games support contract that is required by a site selection
organization in connection with the committee's bid to host an olympic
games.

(b) The local organizing committee shall provide any information
reasonably requested by the state, with copies to the leaders of both
houses of the legislature, and/or the endorsing municipality to assist
in reviewing the games support contract.

(c) The secretary of state, or his designee, on behalf of the state,
and the endorsing municipality, may agree in a games support contract,
that the state and endorsing municipality will fulfill their obligations
under a games support contract to indemnify and insure against any net
financial deficit resulting from the conduct of the games.

(d) With respect to the olympic games, (1) any liability, any
potential liability and financial commitments or liability of the state
and endorsing municipality will not exceed two hundred fifty million
dollars in the aggregate;

(2) any financial commitments of the state will be satisfied
exclusively by recourse of the olympic games guaranty fund in accordance
with section eighty-four-a of the state finance law;

(3) notwithstanding any other provision of this act, no agreement
entered into pursuant to this act may obligate the state to pay any part
of the cost of acquiring any interest in real or personal property, or
the cost of planning, designing, or constructing any improvement to real
or personal property, or otherwise financially obligate the state, other
than the guaranty specifically provided for in this act.