NY Gen Mun L § 975 (2021)
2021 New York Laws GMU - General Municipal Article 19 - Foreign Trade Zone Authority 975 - Town of Islip Foreign Trade Zone Authority.

§  975. Town of Islip Foreign Trade Zone Authority. For the benefit of the town of Islip and the inhabitants  thereof,  a  foreign  trade  zone authority to be known as the TOWN OF ISLIP FOREIGN TRADE ZONE AUTHORITY, is  hereby  established  for  purposes  of  establishing, operating, and maintaining a Foreign Trade  Zone  in  the  town  of  Islip,  county  of Suffolk.   It  shall constitute a body corporate and politic, and be perpetual in duration. It shall have the powers and duties now or hereafter conferred by title one of article  eighteen-A  of  this  chapter  upon  industrial development  agencies and upon Suffolk county by subdivision eighteen of section two hundred twenty-four of  the  county  law  except  that:  (1) "project"  shall  mean  any land, any building or other improvements and all real and personal properties  located  within  the  town  of  Islip, Suffolk  county,  including but not limited to, machinery, equipment and other facilities deemed necessary or desirable in connection  therewith, or  incidental thereto, whether or not now in existence or construction, which shall be suitable for purposes  of  establishing,  operating,  and maintaining  a  foreign  trade  zone  in  the  town  of Islip, county of Suffolk; and (2) the exercise of  the  powers  of  such  authority  with respect  to  the  acquisition  of  real  property  whether  by purchase, condemnation or otherwise, shall be limited to the corporate  limits  of the  town of Islip, and such authority shall take into consideration the local zoning planning regulations as well  as  the  regional  and  local comprehensive  land  use  plans.  It  shall  be  organized  in  a manner prescribed by and be subject to the provisions of title one  of  article eighteen-A  of  this  chapter, and shall have the power to contract with the county of Suffolk for the promotion, establishment and operation  of a  foreign  trade  zone  pursuant to subdivision eighteen of section two hundred twenty-four of the county law. Its members shall be appointed by the governing body of the town of Islip.  The  authority,  its  members, officers  and  employees  and its operations and activities shall in all respects  be  governed  by  the  provisions  of  title  one  of  article eighteen-A of this chapter.   1.  The  town  of Islip and county of Suffolk are hereby authorized to pledge to and agree with holders of the bonds and notes that;  (a) the town and county will not limit  or  alter  the  rights  hereby vested  in  the  authority to acquire, construct, maintain, reconstruct, and operate any project or projects, to establish and  collect  rentals, fees  and  other charges and to fulfill the terms of any agreements made with the holders of the bonds and notes, or in any way impair the rights and remedies of the bondholders  or  noteholders,  until  the  bonds  or notes,  together  with  interest  thereon,  with  interest on any unpaid installments of interest, and all costs and expenses in connection  with any  action  or  proceeding  by  or  on  behalf  of  the  bondholders or noteholders, are fully met and discharged; and  (b) no facilities except those acquired, constructed and  operated  by the authority created herein shall be acquired, constructed and operated for  foreign  trade zone purposes by the town or county or by any public benefit or other corporation whose members, or any member,  are  elected or  appointed  by the town board of the town of Islip until the bonds or notes, together with interest  thereon,  with  interest  on  any  unpaid installment  of  interest, and all costs and expenses in connection with any action  or  proceeding  by  or  on  behalf  of  the  bondholders  or noteholders are fully met and discharged.   2.  Any  public  officer or employee of the town of Islip or county of Suffolk, selected  by  the  authority  may,  with  the  consent  of  the municipality,  by  which  he or she has been employed, be transferred to the authority and shall be eligible for such transfer to the  authority.  The  salary or compensation of any such officer or employee shall, after such transfer, be paid and fixed by the authority. Any such officers  or employees  so transferred to the authority pursuant to the provisions of this  section,  who  are  members  of or beneficiaries under an existing pension or  retirement  system,  shall  continue  to  have  all  rights, privileges,  obligations  and status with respect to such fund system or systems as are now prescribed by law, but during  the  period  of  their employment   by  the  authority,  all  contributions  to  a  pension  or retirement system to be paid by the employer on account of such officers or employees, shall be paid by the authority.