N.Y. GMU Law § 975 — New York Code / Act GMU / Article 19 / Section 975
Town of Islip Foreign Trade Zone Authority
Status: in_force

§ 975. Town of Islip Foreign Trade Zone Authority. For the benefit of\nthe town of Islip and the inhabitants thereof, a foreign trade zone\nauthority to be known as the TOWN OF ISLIP FOREIGN TRADE ZONE AUTHORITY,\nis hereby established for purposes of establishing, operating, and\nmaintaining a Foreign Trade Zone in the town of Islip, county of\nSuffolk.\n  It shall constitute a body corporate and politic, and be perpetual in\nduration. It shall have the powers and duties now or hereafter conferred\nby title one of article eighteen-A of this chapter upon industrial\ndevelopment agencies and upon Suffolk county by subdivision eighteen of\nsection two hundred twenty-four of the county law except that: (1)\n"project" shall mean any land, any building or other improvements and\nall real and personal properties located within the town of Islip,\nSuffolk county, including but not limited to, machinery, equipment and\nother facilities deemed necessary or desirable in connection therewith,\nor incidental thereto, whether or not now in existence or construction,\nwhich shall be suitable for purposes of establishing, operating, and\nmaintaining a foreign trade zone in the town of Islip, county of\nSuffolk; and (2) the exercise of the powers of such authority with\nrespect to the acquisition of real property whether by purchase,\ncondemnation or otherwise, shall be limited to the corporate limits of\nthe town of Islip, and such authority shall take into consideration the\nlocal zoning planning regulations as well as the regional and local\ncomprehensive land use plans. It shall be organized in a manner\nprescribed by and be subject to the provisions of title one of article\neighteen-A of this chapter, and shall have the power to contract with\nthe county of Suffolk for the promotion, establishment and operation of\na foreign trade zone pursuant to subdivision eighteen of section two\nhundred twenty-four of the county law. Its members shall be appointed by\nthe governing body of the town of Islip. The authority, its members,\nofficers and employees and its operations and activities shall in all\nrespects be governed by the provisions of title one of article\neighteen-A of this chapter.\n  1. The town of Islip and county of Suffolk are hereby authorized to\npledge to and agree with holders of the bonds and notes that;\n  (a) the town and county will not limit or alter the rights hereby\nvested in the authority to acquire, construct, maintain, reconstruct,\nand operate any project or projects, to establish and collect rentals,\nfees and other charges and to fulfill the terms of any agreements made\nwith the holders of the bonds and notes, or in any way impair the rights\nand remedies of the bondholders or noteholders, until the bonds or\nnotes, together with interest thereon, with interest on any unpaid\ninstallments of interest, and all costs and expenses in connection with\nany action or proceeding by or on behalf of the bondholders or\nnoteholders, are fully met and discharged; and\n  (b) no facilities except those acquired, constructed and operated by\nthe authority created herein shall be acquired, constructed and operated\nfor foreign trade zone purposes by the town or county or by any public\nbenefit or other corporation whose members, or any member, are elected\nor appointed by the town board of the town of Islip until the bonds or\nnotes, together with interest thereon, with interest on any unpaid\ninstallment of interest, and all costs and expenses in connection with\nany action or proceeding by or on behalf of the bondholders or\nnoteholders are fully met and discharged.\n  2. Any public officer or employee of the town of Islip or county of\nSuffolk, selected by the authority may, with the consent of the\nmunicipality, by which he or she has been employed, be transferred to\nthe authority and shall be eligible for such transfer to the authority.\nThe salary or compensation of any such officer or employee shall, after\nsuch transfer, be paid and fixed by the authority. Any such officers or\nemployees so transferred to the authority pursuant to the provisions of\nthis section, who are members of or beneficiaries under an existing\npension or retirement system, shall continue to have all rights,\nprivileges, obligations and status with respect to such fund system or\nsystems as are now prescribed by law, but during the period of their\nemployment by the authority, all contributions to a pension or\nretirement system to be paid by the employer on account of such officers\nor employees, shall be paid by the authority.\n