NY Pub Auth L § 1226-H (2021)
2021 New York Laws PBA - Public Authorities Article 5 - Public Utility Authorities Title 10 - Upper Mohawk Valley Regional Water Finance Authority 1226-H - Agreements Among the Water Board, Board of Water Supply, Municipalities and the Authority for the Provision of Projects.

§  1226-h.  Agreements  among  the water board, board of water supply, municipalities and the authority for the provision of projects.  1.  The authority,   the  water  board,  the  board  of  water  supply  and  any municipality may enter into agreements for the purpose of providing  for the construction and financing of a project.   2.  Any  such  agreements: (i) shall describe in sufficient detail for reasonable identification the particular project to be financed in whole or in part by the authority,  (ii)  shall  describe  the  plan  for  the financing of the cost of the construction of such project, including the amount,  if  any,  to  be  provided by the water board and the source or sources thereof, (iii) shall set forth the method by which and  by  whom and the terms and conditions upon which moneys provided by the authority shall  be  disbursed,  (iv)  may  require,  in  the  discretion  of  the authority, the payment to the authority of the proceeds of any state and federal grants available to the water board, (v) shall provide  for  the establishment of user fees, rates and other charges and the charging and collection  thereof  by  the  water  board  for  the use of, or services furnished, rendered or made available by such project such as to provide that the water board receive revenues at least sufficient, together with other revenues of the water board, if any, to meet the  requirements  of this  title,  (vi)  may  provide  for the transfer by the board of water supply or by any municipality to the water board pursuant to this  title of  ownership of any project, (vii) may provide for the construction and completion of such project by such municipality or the water  board  and for the operation, maintenance and repair thereof, subject to such terms and  conditions,  not  inconsistent with this title, which may be in the public interest and necessary or desirable properly  and  adequately  to secure  the  holders of bonds of the authority, (viii) shall provide for the  discontinuance  or  disconnection  of  the  supply  of  water   for non-payment  of  fees,  rates  or  other charges therefor imposed by the water board, provided such discontinuance or disconnection of any supply of water shall not be carried out except in  the  manner  and  upon  the notice   as   is  required  of  a  waterworks  corporation  pursuant  to subdivisions three-a, three-b and three-c of section  eighty-nine-b  and section  one  hundred sixteen of the public service law, and (ix) in the discretion of the authority, require reports concerning the project from the water board to the authority and any municipality.   3. If the  city  executes  an  agreement  pursuant  to  this  section, relating  to  the  financing of projects by revenue bonds, it shall have and shall be deemed to have annulled its power to levy user fees,  rents and  other charges on participating properties or customers for the cost of  financing,  operating  and  maintaining  such  projects  under   its jurisdiction  until  all  bonds of the authority shall have been paid or discharged in accordance with the agreement and the  resolution  of  the authority  authorizing  such  bonds. If the city has outstanding general obligation bonds issued for acquiring or constructing water or  sewerage facilities,  whether  the  bonds  are  payable  from  revenues,  special assessments, or taxes, it may authorize the authority  pursuant  to  the agreement to issue its revenue bonds under this title for the purpose of retiring the outstanding bonds.   4.  No  such  agreement  shall be executed until the water board shall have held a public hearing at which users of the project shall have  had opportunity  to  be  heard  concerning  the proposed provisions thereof. Notice of such hearing shall be published not less  than  ten  nor  more than  twenty  days  in  advance  in  a  newspaper or newspapers having a general circulation in the service  area  as  designated  by  the  water board.    5.  Such  agreement  shall  be  effective  upon  the  issuance  by the authority of bonds to finance the cost of constructing projects  of  the city or the water board.   6.  Any  such  agreement  may  be  amended,  revised  or  extended  by supplemental agreements authorized and executed in the  same  manner  as the  original  agreement,  provided that any such supplemental agreement shall not be inconsistent with the provisions of this title.   7. (a) Following the execution of the initial agreement by and between the authority, the water board,  the  board  of  water  supply  and  any municipality  pursuant to this section, the secretary of the water board shall, and following the execution of any subsequent  agreement  by  and between  the  authority, the water board, the board of water supply, and any municipality pursuant to this  section  may,  publish  a  notice  in substantially the following form:   "Notice  is  hereby  given  that  (here  insert  the  parties  to  the agreement) (has) (have) on the  _ day of   _ entered into  an  agreement with  the  upper  Mohawk  valley  regional  water  finance  authority in relation to the construction and  financing  of  (here  insert  a  brief description  of  the  water  project or facility to which such agreement relates) pursuant to the upper  Mohawk  valley  regional  water  finance authority  act  for  the  purpose  of placing its water facilities on an independent basis, imposing  fees  and  rates  on  water  users,  which, together  with  other  revenues available for such purposes, if any, are sufficient to pay to the authority debt service on bonds issued  by  the authority pursuant to the agreement and for operation and maintenance of the  facility (title to which is transferred to the water board pursuant to the agreement). Such agreement in general terms provides (here insert a brief summary of the substantive provisions of such agreement).   A copy of the complete agreement is on file for public  inspection  in the  office  of  the  secretary of the water board where the same may be examined by any interested person during  regular  business  hours.  The validity  of  the  agreement  may  be  hereafter contested only upon the ground or grounds that: (i) such agreement violates, or the  performance of  any  provision  thereof  by  any  party  thereto  would violate, the provisions of the state constitution or (ii) the provisions of law which should have been complied with in  relation  to  the  authorization  and execution  thereof  were not substantially complied with, and an action, suit or proceeding is commenced within sixty days after the date of this notice."  (b) The publication authorized by  this  subdivision  shall  be  in  a newspaper or newspapers having a general circulation in the service area as designated by the water board.  (c)  After  the  expiration  of the sixty day period set forth in such notice, the validity of such agreement shall  be  conclusively  presumed and  the validity thereof shall not thereafter be questioned by either a party  plaintiff  or  a  party  defendant  and  no  court   shall   have jurisdiction in any action, suit or proceeding contesting such validity.  (d)  Neither  any  error  nor  omission  in  the notice of publication provided for in this subdivision shall affect or impair the validity  of an  agreement  executed  pursuant  to this section so long as the notice substantially conforms to the provisions of this section.