§ 1727. New York city school construction authority. 1. There is
hereby established a public benefit corporation to be known as the "New
York city school construction authority".

2. The authority shall be governed by and its powers shall be
exercised by a board of trustees consisting of three members. The
members shall be the chancellor, or acting chancellor if the position of
chancellor is vacant, and two other members, to be appointed by the
mayor. The chancellor or acting chancellor shall serve as the
chairperson of the board of trustees. No member of the city board or of
a community school board shall be one of the appointed members of the
board, nor shall an officer or employee of the city or state be one of
the appointed members of the board. The appointed members shall serve at
the pleasure of the mayor.

3. Each appointed member shall continue in office until a successor
has been appointed and qualifies. In the event a vacancy occurs in the
office of an appointed member, the vacancy shall be filled in the same
manner as was the original appointment of the trustee whose office
became vacant.

4. Appointed members may engage in private employment, or in a
profession or business; provided, however, that notwithstanding any
otherwise applicable provision of general law, the members shall be
subject to the limitations contained in sections twenty-six hundred
three, twenty-six hundred four, twenty-six hundred five, and twenty-six
hundred six of the New York city charter. The authority shall, for the
purposes of such sections be an "agency" and such trustees shall be
"public servants" for the purposes of such sections. In addition, such
trustees shall be subject to the provisions of section eleven hundred
sixteen of such charter and shall for the purposes of such section be
"officers of the city". Notwithstanding any otherwise applicable
provision of general law, employees of the authority shall be subject to
such provisions of such charter and shall be deemed to be officers and
employees of the city of New York for purposes of the financial
disclosure requirements of section 12-110 of the administrative code of
such city.

5. The board shall provide for the holding of regular meetings and
such special meetings at the call of the chairman, as may be necessary.
A majority of the whole number of trustees shall constitute a quorum for
the transaction of business. The powers of the board shall be vested in
and exercised by a majority of the whole number of the members thereof.

6. Trustees shall receive no compensation for their services, but
shall be reimbursed for the actual and necessary expenses incurred by
them in the performance of their official duties as trustees of the
authority.

7. The board shall appoint as president of the authority an individual
who has extensive executive-level construction experience. The
president, who shall not be a member of the board, shall be the chief
executive officer of the authority and shall be responsible for the
discharge of the executive and administrative functions and powers of
the authority. The president shall serve at the pleasure of the board.

8. The authority shall continue in its corporate existence until
terminated by law. Upon termination of the existence of the authority,
all of the property interests of the authority shall pass to and vest in
the city and the city shall assume any outstanding contractual duties or
obligations of the authority, except as otherwise may be specified by
law.