NY Pub Auth L § 1115-B (2021)
2021 New York Laws PBA - Public Authorities Article 5 - Public Utility Authorities Title 6 - Albany Municipal Water Finance Authority 1115-B - Albany Municipal Water Finance Authority.

§  1115-b.  Albany  municipal  water  finance  authority.  1. A public corporation,  to  be  known  as  the  "Albany  municipal  water  finance authority,"  is  hereby created for the public purposes and charged with the duties and having the powers provided in this title.  The  authority shall  be  a  body  corporate  and politic constituting a public benefit corporation.   2. The authority shall consist of seven members, five of whom shall be residents of the city and be appointed by the  mayor  and  two  of  whom shall be appointed by the governor from a list of names submitted by the mayor.  Of  the appointments made by the governor, one shall be a public member for a term ending on the thirty-first  day  of  December  of  the third  year in which this title shall have become a law and one shall be a public member for a term ending on the thirty-first day of December of the fourth year in which this title shall have become a law.  The  first members  appointed  by  the  mayor  shall be appointed for the following terms of office: one for a term ending on December thirty-first  of  the second  year  following the year in which this title shall have become a law, two for a term ending on December thirty-first of  the  third  year following  the year in which this title shall have become a law, and two for a term ending on December thirty-first of the fourth year  following the  year  in  which  this  title  shall  have  become a law. Subsequent appointments of members shall be made for a term of three  years  ending in each case on December thirty-first of the last year of such term. Any member  appointed by the mayor or the governor who is not an employee of the city of Albany shall be deemed a public member.  All  members  shall continue  to  hold  office  until  their  successors  are  appointed and qualify. Vacancies shall be filled in the manner provided  for  original appointments.  Vacancies, occurring otherwise than by expiration of term of office, shall be filled  by  appointment  for  the  unexpired  terms. Members  may be removed from office for the same reasons and in the same manner as may be provided by law for the  removal  of  officers  of  the city.  Each public member shall be entitled to a salary of five thousand dollars per annum. No member shall receive  any  reimbursement  for  the ordinary  expenses  of  attending meetings, but may by resolution of the authority be allowed  their  expenses  of  a  special  or  extraordinary nature.  The powers of the authority shall be vested in and be exercised by the governing body at a meeting duly called and held where  a  quorum of four members are present. No action shall be taken except pursuant to the  favorable  vote  of  at least three members. The governing body may delegate to one or more of its members, officers,  agents  or  employees such powers and duties as it may deem proper.   3.  The  officers  of  the  authority  shall  consist of a chairman, a vice-chairman and a treasurer, who shall be members  of  the  authority, and  a  secretary,  who  need  not  be  a  member of the authority. Such officers shall be appointed by the governing body  and  shall  serve  in such  capacities  at  the pleasure of the governing body. In addition to the secretary, the governing body may appoint  and  at  pleasure  remove such additional officers and employees as it may determine necessary for the  performance  of the powers and duties of the authority, and fix and determine their qualifications, duties and compensation, subject to  the provisions  of  the  civil service law. The governing body may also from time to time contract for expert professional  services.  The  treasurer shall  execute  a bond, conditioned upon the faithful performance of the duties of his office, the amount  and  sufficiency  of  which  shall  be approved by the governing body and the premium therefor shall be paid by the authority.   4.  Notwithstanding any inconsistent provision of any general, special or local law, ordinance, resolution or charter, no  officer,  member  or  employee  of  the state, the city, any other municipality, or any public benefit corporation, shall be deemed to have forfeited or shall  forfeit his  or  her  office  or  employment  or any benefits provided under the retirement and social security law by reason of his or her acceptance of appointment  as  a  member, officer, agent or employee of the authority, nor shall service as such member, officer, agent or employee  be  deemed incompatible or in conflict with such office, membership or employment.   5.  (a)  The  mayor  shall file on or before March thirty-first of the year following the year in which this title shall have become a law,  in the  office of the secretary of state, a certificate signed by the mayor setting forth: (1) the name of the  authority;  (2)  the  names  of  the members  appointed  by  the mayor and their terms of office; and (3) the effective date of this title. If such certificate is not filed with  the secretary  of state on or before such date, then the corporate existence of the authority shall thereupon terminate and  it  shall  thereupon  be deemed to be and shall be dissolved.  (b)  The  authority  and  its corporate existence shall continue until terminated by law, provided, however, that no such law shall take effect so  long  as  the  authority  shall  have  bonds  or  other  obligations outstanding  unless  adequate provision has been made for the payment or satisfaction  thereof.  Upon  termination  of  the  existence   of   the authority,  all  of  the  rights  and  properties  of the authority then remaining shall pass to and vest in the city unless  otherwise  provided in  an  agreement  between  the  city  and  the authority, and except as otherwise may be specified in such law.   6. It is hereby determined and declared that  the  authority  and  the carrying  out  of  its  powers  and  duties  are in all respects for the benefit of the people of the city and the state for the  improvement  of their  health,  welfare and prosperity and that such purposes are public purposes and that the authority is and will be performing  an  essential governmental function in the exercise of the powers conferred upon it by this title.   7.  Nothing  in this title shall be construed to obligate the state in any way  in  connection  with  the  operations  or  obligations  of  the authority.