§ 24. Corporation for the benefit of the city of New York. 1.
Notwithstanding any provision of state or local law, the city of New
York is hereby authorized to provide for the creation of a single
not-for-profit corporation subject to section fourteen hundred eleven of
the not-for-profit corporation law, except to the extent that such
section is inconsistent with this section, which corporation shall have
the purpose, among others, of financing or refinancing costs arising
from or related to the closing of Freshkills landfill.

2. Such corporation shall have the authority to issue and sell one or
more series or classes of bonds, notes and other obligations from time
to time on behalf of the city of New York to finance or refinance costs
relating to the closure of the Freshkills Landfill. Such bonds, notes
and other obligations shall not constitute a debt or indebtedness of
such city and, together with the income therefrom, shall be exempt from
taxation, except for transfer and estate taxes.

3. The incorporation of TSASC, Inc. under section fourteen hundred
eleven of the not-for-profit corporation law, and the approval of
articles of incorporation and bylaws for such corporation, are hereby
ratified and shall be deemed to meet the requirements of this section,
notwithstanding that such requirements were enacted after such creation
and approval, and such corporation shall be treated for all purposes as
if it had been formed by and pursuant to the provisions of this section.
TSASC, Inc. shall be deemed to be the corporation formed pursuant to the
authorization provided in subdivision one of this section.

4. The provisions of this section shall not be deemed or construed to
alter or impair any other power of the city of New York to provide for
the creation of not-for-profit corporations pursuant to any other
applicable provision of law, but shall be in addition to any other such
power.