§ 6276. Agreements with dormitory authority. (a) To fulfill the
purposes contained in subdivision a of section sixty-two hundred
seventy-three of this article, the fund may enter into leases, subleases
or other agreements with the dormitory authority to which the board of
higher education may be a party under which the authority may provide
facilities for the use of the city university. The fund may enter into
an agreement with the dormitory authority to which the board of higher
education and the city of New York shall be parties under which the
authority may acquire, design, construct or otherwise provide and
furnish and equip facilities for the use of Hunter College which may
include therein a police and fire station upon a site set forth in and
in accordance with the terms of such agreement, as authorized in
paragraph f of subdivision two of section sixteen hundred eighty of the
public authorities law. The provisions of the dormitory authority act
shall govern the relationships of the dormitory authority, the fund, and
the board of higher education in the city of New York with respect to
all such leases, subleases or other agreements and actions thereunder,
and the fund may apply to the payment of rentals and other payments
required from the fund by any such leases, subleases or other agreements
and may pledge as security for such payments to the dormitory authority
with respect to such leases, subleases or other agreements all or part
of the resources of the fund. The dormitory authority shall not issue
obligations for the provision of a senior or community college facility
unless a certificate of availability of funds has been approved by the
director of the budget and an appropriation for such facility has been
enacted.

(b) Neither the state, nor the city or the city university of New
York, shall be liable for any rentals payable by the fund pursuant to
the terms of any lease, sublease or other agreement entered into by the
fund under this article. Any such lease, sublease or other agreement
shall contain among its terms a statement to that effect.

(c) Housing units provided under this article for faculty, staff and
married students and the families thereof shall be used and occupied
pursuant to leases or other agreements between the faculty, staff and
married students and the city university, the provisions of which have
been approved by the dormitory authority and the city university
construction fund. There shall be paid to the city university, pursuant
to such leases or other agreements by such faculty, staff and married
students, except the chancellor of the city university and the
presidents of any of the senior colleges or graduate institutions
thereof and their families, rentals, the total amount of receipts from
which rentals in each city fiscal year is to be at least equal to (i)
the portion of the rentals to be paid to the dormitory authority by the
fund in that city fiscal year which is allocable to such housing units
and (ii) the expense of all direct and indirect costs of operation of
such housing units. From such receipts the city university shall account
for and pay to the fund an amount equal to the portion of the rentals to
be paid to the dormitory authority by the fund in that city fiscal year
which is allocable to such housing units, and the fund shall pay such
amount to the dormitory authority in accordance with its agreements
therewith. The estimated amount of rentals allocable to such housing
units shall be separately stated from the amount required to be included
in the city university construction fund's report submitted pursuant to
clause three of subdivision seven of section sixty-two hundred
seventy-four of this article and shall not be included in the amount
equal to the aggregate of all rentals and such other payments due to the
dormitory authority from the fund of which the state and city are each
obligated to pay to the fund one-half pursuant to section sixty-two
hundred seventy-nine of this article.

(d) Any pledge of or other security interest in moneys, earnings,
income, revenues, accounts, contract rights, general intangibles or
other personal property, or any other resources held, made or created by
the fund or on its behalf by any duly authorized officer, employee or
agent thereof including the comptroller of the city of New York when
acting as agent pursuant to this article or by any other person to
secure such person's obligations to the fund, shall be valid, binding
and perfected from the time when such pledge or other security interest
attaches, without any physical delivery of the collateral or further
act. The lien of any such pledge or other security interest shall be
valid, binding and perfected as against all parties having claims of any
kind in tort, contract or otherwise against the fund irrespective of
whether or not such parties have notice thereof. No instrument by which
such a pledge or other security interest is created nor any financing
statement need be recorded or filed. This subdivision shall apply
notwithstanding the provisions of the uniform commercial code.