NY Pub Auth L § 1387 (2021)
2021 New York Laws PBA - Public Authorities Article 6 - Port Authorities Title 3 - Ogdensburg Port Authority 1387 - Special Port Development and Improvement Powers.

§  1387.  Special  port  development  and  improvement  powers. 1. The   authority shall have power to make rules and regulations:  (a)  for  the   development, improvement, promotion, preservation and utilization of the   port  district  and projects, including the Ogdensburg municipal airport   and the industrial park development on lands wholly or in part  acquired   pursuant  to  the  provisions  of  subdivision  one  of section thirteen   hundred eighty-three of this  chapter;  and  (b)  for  the  payment  and   collection  of  fees,  charges,  rentals  and  other  receipts  from its   properties and  facilities  within  the  port  district,  including  the   Ogdensburg  municipal airport and the industrial park development, which   fees, charges, rentals and other receipts are hereinafter referred to as   "port revenue." Until such time as  the  state  of  New  York  is  fully   reimbursed  by  the  authority for the total amount of money advanced by   the state to the authority no rule,  regulation,  schedule  or  rate  in   relation  to  or  governing  port  revenue  shall  become  effective  or   controlling unless approved by the director of the budget of  the  state   of New York.2.  Until  such  time as the state of New York is fully reimbursed for   the total amount of money advanced by the state  to  the  authority  all   port  revenue  received  by  the  authority  shall  be paid to the state   comptroller as agent of the authority and deposited in a  separate  bank   account  or  accounts  to  be  known  as the "Ogdensburg port fund." The   moneys in such fund shall be available subject to the  approval  of  the   director  of  the budget of the state of New York for the payment of any   and all costs and expenditures incurred in relation to  the  acquisition   of property, construction, equipment, maintenance, repair, operation and   improvement  of  the  industrial park development, port and airport. The   moneys of the Ogdensburg port fund when made  available  shall  be  paid   from  such  fund  on  the  audit and warrant of the state comptroller on   vouchers approved solely by the chairman of the authority  or  his  duly   designated officer.3.  All moneys in the Ogdensburg port fund in excess of the sum of two   hundred thousand dollars shall on the first day of each month be paid by   the authority to the state comptroller provided, however, that effective   June thirty, nineteen hundred seventy-eight, the director of the  budget   and  the  authority  shall  establish within the provisions of a written   agreement between the authority  and  the  director  providing  for  the   repayment  to  the state by the authority of state advances, the maximum   amount of moneys which the authority may retain in the  Ogdensburg  port   fund. The comptroller is hereby authorized to receive from the authority   such  amounts  as  shall  be  paid  to  the  comptroller pursuant to the   provisions of this section and to credit all such amounts to the capital   construction fund. Upon certification by the state comptroller that  all   moneys  due  the  state have been paid in full, the remaining balance of   such fund shall be available to such authority and may be used  by  such   authority for any corporate purpose. The accounts of the authority shall   be   subject   to  examination  by  the  state  comptroller.  The  state   comptroller is hereby authorized and empowered to examine  the  accounts   and  books  of  the  authority  at  such  periods  of  time  he may deem   necessary, including its receipts, disbursements, contracts, leases  and   any other matters relating to its financial standing and fiscal affairs.4.  The  provisions  of  this  section  and  section  thirteen hundred   eighty-three shall not apply to the Waddington port district  nor  shall   it   apply  to  the  acquisition,  operation,  utilization,  management,   promotion  and  improvement  at  Ogdensburg  of  the   Rutland   Railway   Corporation  dock  terminal,  facilities,  appurtenances and the Rutland   Railway Corporation right-of-way, facilities  and  appurtenances  within   the  port district, in the event the authority obtains a federal loan or    grant  or  a  combination  of  both  to  finance  the  acquisition   and   development of such Rutland Railway Corporation property within the port   district,  provided,  however,  that  the  state  of  New  York be fully   reimbursed  for any advances made for these specific purposes as defined   in this subdivision, except that such right of  reimbursement  shall  be   subordinate  to  the  rights of holders of any obligations issued by the   authority pursuant to the terms and conditions applicable  to  any  such   federal loan or grant or combination of both.5.  Nothing  in this section shall prevent the authority and the state   from entering into an agreement for the  establishment  of  a  revolving   fund  to  be  used  to  pay  part of or all of the authority's operating   expenses. This revolving fund shall  be  initially  funded  with  moneys   advanced  from  the  Ogdensburg  port fund and shall be replenished from   time to time  from  such  funds  upon  the  audit  and  warrant  of  the   comptroller.