NY Pub Auth L § 3655 (2021)
2021 New York Laws PBA - Public Authorities Article 10-D - Miscellaneous Authorities Title 1 - Nassau County Interim Finance Authority 3655 - Declaration of Need.

§ 3655. Declaration of need. 1. The county shall determine and declare   whether it requests the authority to undertake a financing of costs. Any   such  request  shall be made by the county executive and approved by the   legislature. Any such financing shall be  consistent  with  the  adopted   budget  and  financial  plan  required under sections thirty-six hundred   sixty-six  and  thirty-six  hundred  sixty-seven  of  this   title,   as   applicable.2.  Upon  declaration by the county of such need, the county executive   shall request that the authority provide financing  in  accordance  with   the provisions of this title.3.  Upon  approval  by  the authority, in its discretion in accordance   with the provisions of  this  title,  of  such  financing  request,  the   authority  may  enter  into  agreements with the county, and the county,   acting by the county executive, approved by the legislature,  may  enter   into  agreements with the authority in accordance with the provisions of   this  title  as  to  the  financing  of  costs  by  the  authority,  the   application  of  tax  revenues to the authority to secure its bonds, and   further assurances  in  respect  of  the  authority's  receipt  of  such   revenues and the fiscal affairs of the county, including but not limited   to  the  manner  of preparation of budget reports and financial plans as   provided for in sections thirty-six  hundred  sixty-six  and  thirty-six   hundred  sixty-seven  of  this  title,  as  applicable.  The authority's   revenues shall not be deemed funds of the county.  Any  such  agreements   may  be  pledged  by  the  authority  to secure its bonds and may not be   modified thereafter except as provided by the terms of the pledge.4. Such agreements shall (a) describe the particular financeable costs   to be financed in whole or in part by the authority,  (b)  describe  the   plan  for  the financing of the costs, (c) set forth the method by which   and by whom and the terms and conditions upon which  money  provided  by   the  authority  shall be disbursed to the county, (d) where appropriate,   provide for the payment of such costs by the county under such contracts   as shall be awarded by the county or for the county to  make  a  capital   contribution  of such proceeds as county funds to another entity for the   payment or reimbursement of such costs, and (e) require  every  contract   entered  into  by the county, or another entity receiving funds from the   county, for costs to be financed in whole or in part by the authority to   be subject to the provisions of the county charter and other  applicable   laws  governing  contracts of the county or such entity, as the case may   be. Nothing  contained  in  this  title  shall  relieve  or  modify  the   application  to  the county or any entity acting on behalf of the county   or any covered organization of the requirements of law relating  (i)  to   contracts for procurement, design, construction, services and materials,   or  (ii)  the provisions of section two hundred twenty of the labor law,   or (iii) the provisions of article five-A of the general municipal law.5. At least annually, commencing no more than one year after the  date   on  which  authority  bonds are first issued, the county executive shall   report to the authority, the comptroller,  the  legislature,  the  state   comptroller, the chairs of the senate finance committee and the assembly   ways  and  means  committee, and the director of the budget on the costs   financed by the authority and the amount of such financing over the past   year, which report shall describe, by reference to the specific items in   the county's budget or financial plan, its compliance therewith.