NY Pub Auth L § 1680-J-2 (2021)
2021 New York Laws PBA - Public Authorities Article 8 - Miscellaneous Authorities Title 4 - Dormitory Authority 1680-J*2 - Authorization for the Issuance of Bonds for the Health Care Efficiency and Affordability Law for New Yorkers (Heal Ny) Capital Grant Program.

* §  1680-j.  Authorization  for  the issuance of bonds for the health   care efficiency and affordability law for New Yorkers (HEAL NY)  capital   grant  program.  Notwithstanding  any  other  provision  of  law  to the   contrary, the dormitory authority of the state of  New  York  is  hereby   authorized to issue bonds or notes in one or more series in an aggregate   principal  amount  not  to  exceed  seven  hundred fifty million dollars   excluding bonds issued to fund one or more debt service  reserve  funds,   to  pay  costs  of  issuance of such bonds, and bonds or notes issued to   refund or otherwise repay such bonds or notes previously issued, for the   purposes  of  financing   project   costs   authorized   under   section   twenty-eight  hundred  eighteen  of the public health law. Of such seven   hundred fifty  million  dollars,  ten  million  dollars  shall  be  made   available  to  the  community health centers capital program established   pursuant to section twenty-eight hundred seventeen of the public  health   law.1. Such bonds and notes of the dormitory authority shall not be a debt   of  the  state and the state shall not be liable thereon, nor shall they   be payable out of any funds other than those appropriated by  the  state   to  the  authority for debt service and related expenses pursuant to any   service contract executed pursuant to subdivision two of  this  section,   and  such  bonds and notes shall contain on the face thereof a statement   to such effect. Except for  purposes  of  complying  with  the  internal   revenue  code, any interest income earned on bond proceeds shall only be   used to pay debt service on such bonds. All of  the  provisions  of  the   dormitory  authority  act  relating  to  bonds  and  notes which are not   inconsistent  with  the  provisions  of  this  section  shall  apply  to   obligations authorized by this section, including but not limited to the   power  to  establish  adequate  reserves  therefore and to issue renewal   notes or refunding bonds thereof. The issuance of  any  bonds  or  notes   hereunder  shall  further  be subject to the approval of the director of   the division of the budget, and any projects funded through the issuance   of bonds or notes hereunder shall be approved  by  the  New  York  state   public authorities control board, as required under section fifty-one of   this chapter.2.  Notwithstanding any other law, rule or regulation to the contrary,   in  order  to  assist  the  dormitory  authority  in   undertaking   the   administration  and financing of projects authorized under this section,   the director of the budget is hereby authorized to  enter  into  one  or   more service contracts with the dormitory authority, none of which shall   exceed  more  than  thirty  years  in  duration,  upon  such  terms  and   conditions as the director of the budget  and  the  dormitory  authority   agree,  so  as  to  annually  provide to the dormitory authority, in the   aggregate, a sum not to exceed the  annual  debt  service  payments  and   related  expenses  required  for  the bonds and notes issued pursuant to   this section.  Any  service  contract  entered  into  pursuant  to  this   subdivision  shall  provide  that the obligation of the state to pay the   amount therein provided shall not constitute a debt of the state  within   the  meaning  of  any constitutional or statutory provision and shall be   deemed executory only to the extent of  monies  available  and  that  no   liability shall be incurred by the state beyond the monies available for   such  purposes,  subject to annual appropriation by the legislature. Any   such contract or any payments made or  to  be  made  thereunder  may  be   assigned or pledged by the dormitory authority as security for its bonds   and notes, as authorized by this section.3.  Notwithstanding  any  law  to the contrary, and in accordance with   section four of  the  state  finance  law,  the  comptroller  is  hereby   authorized  and  directed  to  transfer  from the health care reform act   (HCRA) resources fund (061) to the general fund, upon the request of the    director of the budget, up to $6,500,000 on or before  March  31,  2006,   and  the  comptroller  is  further  hereby  authorized  and  directed to   transfer from the healthcare reform act (HCRA); Resources fund (061)  to   the  Capital  Projects Fund, upon the request of the director of budget,   up to $139,000,000 for the period April 1, 2006 through March 31,  2007,   up  to $171,100,000 for the period April 1, 2007 through March 31, 2008,   up to $208,100,000 for the period April 1, 2008 through March 31,  2009,   up  to $151,600,000 for the period April 1, 2009 through March 31, 2010,   up to $215,743,000 for the period April 1, 2010 through March 31,  2011,   up  to $433,366,000 for the period April 1, 2011 through March 31, 2012,   up to $150,806,000 for the period April 1, 2012 through March 31,  2013,   up  to  $78,071,000 for the period April 1, 2013 through March 31, 2014,   and up to $86,005,000 for the period April 1,  2014  through  March  31,   2015,  and  up  to  $86,005,000  for  the  period  April 1, 2015 through   December 31, 2017.* NB There are 2 § 1680-j's