§ 3860. Additional provisions. 1. Notwithstanding any provision to the
contrary in title six-A of article two of the local finance law, neither
the city nor any covered organization shall file any petition authorized
by such title six-A without the approval of the authority and the state
comptroller. No such petition shall be filed as long as any bonds, notes
or other obligations issued by the authority remain outstanding. Failure
of the authority or the state comptroller to notify the city or a
covered organization within thirty days (or such additional time, not
exceeding thirty days, as the authority or state comptroller shall have
notified the city or covered organization that it requires to complete
its review) after submission to it of a petition shall be deemed to
constitute authority or state comptroller approval thereof.

2. Nothing contained in this title shall limit the right of the city
or any covered organization to comply with the provisions of any
existing contract within or for the benefit of the holders of any bonds
or notes of the city or such covered organization.

3. Nothing contained in this title shall be construed to limit the
power of the city or a covered organization to determine, from time to
time, within available funds for the city or for such covered
organization, the purposes for which expenditures are to be made by the
city or such covered organization and the amounts of such expenditures,
consistent with the aggregate expenditures then permitted under the
financial plan for the city or such covered organization.

4. The authority's fiscal year shall be July first through June
thirtieth.

5. The authority shall adopt guidelines for procurement contracts in
accordance with section twenty-eight hundred seventy-nine of this
chapter.