NY Priv Hous Fin L § 47-B (2021)
2021 New York Laws PVH - Private Housing Finance Article 3 - New York State Housing Finance Agency 47-B - Mental Hygiene Improvement Bonds and Notes.

§  47-b.  Mental  hygiene improvement bonds and notes. 1. Definitions.   For the purposes of section forty-seven and of this section:a. "Community mental health and retardation  facility"  shall  mean  a   building, a unit within a building, a laboratory, a classroom, a housing   unit,  a  dining hall, an activities center, a library, or any structure   on or improvement to real property of any kind or description, including   fixtures and equipment which are an integral part of such building, unit   or structure or improvement, a walkway, a roadway or a parking  lot  and   improvements   and   connections  for  water,  sewer,  gas,  electrical,   telephone, heating, air conditioning and other utility  services,  or  a   combination  of  any  of  the  foregoing,  whether  for patient care and   treatment or staff, staff family or service use, located in a  city,  or   in  a  county  not  wholly included within a city, authorized to provide   community mental health services in accordance with  the  provisions  of   article  forty-one of the mental hygiene law, which is utilized or to be   utilized for the administration and conduct of programs for the mentally   ill or the mentally retarded, or both, and for the provision of services   therefor. A community mental health and retardation facility shall  also   mean  and  include  a residential facility to be operated as a community   residence for the mentally disabled, and a treatment facility for use in   the conduct of an alcoholism treatment program or of a  substance  abuse   treatment program as defined in the mental hygiene law.b.  "Mental  hygiene  facility" shall mean a building, a unit within a   building, a laboratory, a classroom, a housing unit, a dining  hall,  an   activities center, a library, or any structure on or improvement to real   property  of  any  kind or description, including fixtures and equipment   which are an integral part of any  such  building,  unit,  structure  or   improvement, a walkway, a roadway or a parking lot, and improvements and   connections  for  water, sewer, gas, electrical, telephone, heating, air   conditioning and other utility services, or a combination of any of  the   foregoing, whether for patient care and treatment or staff, staff family   or  service  use, located at or related to any state hospital, any state   school, or any state psychiatric or research institute now or  hereafter   established under the professional jurisdiction, supervision and control   of  the  state  department  of mental hygiene. A mental hygiene facility   shall mean and  include  a  "community  mental  health  and  retardation   facility",  unless  such  facility  is expressly excepted or the context   clearly requires otherwise, and shall also mean and include a  treatment   facility  for  use  in  the  conduct of an alcoholism or substance abuse   treatment program as defined in the  mental  hygiene  law,  unless  such   facility   is   expressly  excepted  or  the  context  clearly  requires   otherwise. The definition contained in this  subdivision  shall  not  be   construed  to  exclude  therefrom  a facility to be made available under   license  or  permit  from  the  health  and  mental  hygiene  facilities   improvement  corporation  to  a  voluntary  agency at the request of the   commissioners of the offices of the department of mental hygiene  having   jurisdiction  thereof  for  use in providing community mental health and   retardation services, or for use in the  conduct  of  an  alcoholism  or   substance abuse treatment program.c.  "Mental hygiene improvement bonds" and "mental hygiene improvement   notes" shall mean bonds and notes, respectively, issued  by  the  agency   pursuant to subdivision two of this section.d.  "Mental  hygiene  facilities  improvement  program"  shall  mean a   program undertaken by the agency  and  the  health  and  mental  hygiene   facilities  improvement  corporation  for  the  purpose of constructing,   acquiring, reconstructing, rehabilitating or  improving  mental  hygiene   facilities  or  causing  such  facilities  to  be constructed, acquired,    reconstructed, rehabilitated or improved  pursuant  to  the  health  and   mental hygiene facilities improvement act and this article.2. Additional powers of the agency.a.  The  agency  shall have power to lease one or more existing mental   hygiene facilities from the trustees of the health  and  mental  hygiene   facilities   improvement   corporation   and   to   construct,  acquire,   reconstruct, rehabilitate and improve new mental hygiene  facilities  at   such   facilities,  or  on  any  real  property  leased  from  the  said   corporation, and  to  cause  such  new  facilities  to  be  constructed,   acquired,  reconstructed,  rehabilitated  or improved by the trustees of   the said corporation as its agent,  all  in  accordance  with  a  lease,   sublease  or  other  agreement  entered  into between the agency and the   trustees of the said corporation pursuant to subdivision four of section   nine of the health and mental hygiene facilities improvement act.b. The agency shall have power and is hereby authorized from  time  to   time  to  issue negotiable bonds and notes in conformity with applicable   provisions of the uniform commercial code in such principal  amount  as,   in  the  opinion  of  the  agency, shall be necessary, after taking into   account other monies which may be available for the purpose, to  provide   sufficient  funds  for  the  construction,  acquisition, reconstruction,   rehabilitation or improvement of mental hygiene facilities  pursuant  to   the  preceding paragraph of this subdivision, the payment of interest on   mental hygiene improvement bonds and mental  hygiene  improvement  notes   issued  for  such purposes, the establishment of reserves to secure such   bonds and notes, and all other expenditures of the  agency  incident  to   and  necessary  or  convenient  for  any such construction, acquisition,   reconstruction, rehabilitation or improvement; provided,  however,  that   the  agency  shall not issue mental hygiene improvement bonds and mental   hygiene improvement notes in an  aggregate  principal  amount  exceeding   seven hundred five million dollars, excluding mental hygiene improvement   bonds  and mental hygiene improvement notes issued to refund outstanding   mental hygiene improvement bonds or mental hygiene improvement notes.3. Application of other provisions of article.  Except  as  stated  in   section forty-seven, the other provisions of this article shall apply to   mental  hygiene  improvement  bonds and mental hygiene improvement notes   issued by the agency pursuant to this section, provided,  however,  that   such  bonds  and  notes,  subject  to any agreements with the holders of   particular bonds or notes pledging any specified portions thereof, shall   be secured by a pledge to the payment thereof of (i) rentals paid to the   agency with respect to  mental  hygiene  facilities  financed  with  the   proceeds  of  such bonds and notes, and (ii) any other assets, monies or   accounts pledged or assigned to the agency as security for  the  payment   of  such rentals, and provided further that no resolution or resolutions   authorizing  mental  hygiene  improvement  bonds  and   mental   hygiene   improvement  notes  shall  (i)  pledge  all  or any part of the fees and   charges made or received by the agency pursuant to subdivision eleven of   section forty-four in connection with the making of  mortgage  loans  or   commitments  therefor,  or  all  or  any  part of the monies received in   payment of such mortgage loans and interest thereon, or (ii) pledge  all   or  any  part of the mortgages of the agency or obligations securing the   same, or (iii) provide as to the use and disposition of the gross income   from mortgages owned by the agency or as to the payment of principal  of   mortgages  owned  by  the  agency, or (iv) pledge all or any part of the   rentals paid to the agency under leases, subleases or  other  agreements   for state university facilities or health facilities entered into by the   agency  in  accordance with this article, or (v) pledge or assign all or   any part of any other assets, monies or accounts pledged or assigned  to    the  agency  as  security  for  the  payment  of  rentals for such state   university facilities or health facilities.4.  Mental  hygiene  facilities  fund.  The  agency  shall  create and   establish  a  special  fund  (herein  referred  to  as  mental   hygiene   facilities  fund)  and  shall  pay  into  such fund any monies which the   agency shall receive in payment of rentals due under one or more leases,   subleases or other agreements entered into pursuant to subdivision  four   of  section nine of the health and mental hygiene facilities improvement   act and any other monies which the agency shall receive from the  health   and mental hygiene facilities improvement corporation as security for or   in  payment  of such rentals. Such monies and any other monies paid into   the mental hygiene facilities fund may, in the discretion of the agency,   but subject to agreements with the holders of mental hygiene improvement   bonds and mental hygiene improvement notes, be used by  the  agency  (a)   for  the  repayment of advances, if any, from the state to the agency in   connection  with  mental  hygiene  facilities,  and  any  real  property   required  therefor,  in  accordance  with  the  provisions  of repayment   agreements related  thereto  which  have  been  entered  into  with  the   director  of  the  budget, (b) to pay all costs, expenses and charges of   financing mental hygiene  facilities  including  fees  and  expenses  of   trustees  and  paying  agents,  (c)  to pay the administrative and other   expenses of the agency allocable to the services performed by the agency   in the  financing  of  the  construction,  acquisition,  reconstruction,   rehabilitation  or  improvement of mental hygiene facilities and matters   relating thereto, (d) for the payment of the principal of  and  interest   on  mental hygiene improvement bonds or mental hygiene improvement notes   issued by the agency when the same shall become due whether at  maturity   or  by call for redemption and for the payment of any redemption premium   required to be paid where such bonds or  notes  are  redeemed  prior  to   their  stated  maturities,  and  to  purchase mental hygiene improvement   bonds or mental hygiene improvement notes issued by the agency,  or  (e)   for such other corporate purposes of the agency relating to the carrying   out of its functions, powers and duties with respect to the financing of   the   construction,   acquisition,   reconstruction,  rehabilitation  or   improvement of mental hygiene facilities as the agency in its discretion   shall determine and provide.