NY Pub Auth L § 2327 (2021)
2021 New York Laws PBA - Public Authorities Article 8 - Miscellaneous Authorities Title 15 - Auburn Industrial Development Authority 2327 - Financial Records.

§  2327.  Financial records. 1. The authority shall maintain books and   records in such form as may be prescribed by the state comptroller.2. Annually within ninety days following the close of its fiscal year,   the authority shall prepare and file a financial report for that  fiscal   year complying with the requirements of section eight hundred fifty-nine   of the general municipal law.3.  If  the  authority  fails  to  file  or substantially complete, as   determined by the state comptroller, the financial statement required by   section eight hundred fifty-nine  of  the  general  municipal  law,  the   penalties  set  forth in section eight hundred fifty-nine of the general   municipal law shall apply to the authority.4. The authority shall mail or deliver to the chief executive  officer   and  the  governing  body  of  the city of Auburn and make available for   public inspection and comment, its proposed budget for  the  forthcoming   fiscal year, no later than twenty business days before adoption. At such   time  the authority shall file its proposed budget with the clerk of the   city of Auburn. Such proposed budget shall contain detailed estimates in   writing of the amount of revenues to be received and expenditures to  be   made  during the forthcoming fiscal year. Following its consideration of   the comments received, the agency may revise its budget accordingly  and   shall file the revised budget with the clerk of the city of Auburn.5.  Payments  in lieu of taxes received by the authority shall be paid   over to each affected tax jurisdiction within thirty days of receipt.6. Payments in lieu of taxes which are delinquent under the  agreement   or  which  the  authority fails to remit pursuant to subdivision five of   this section shall be subject to a late payment penalty of five  percent   of  the  amount  due  which shall be paid by the project occupant (where   taxes are delinquent because of  the  occupant's  failure  to  make  the   required  payment)  or  the  agency  (because of the agency's failure to   remit pursuant to subdivision five of this section) to the affected  tax   jurisdiction  at the time the payment in lieu of taxes is paid. For each   month, or part thereof, that the payment in lieu of taxes is  delinquent   beyond  the  first  month,  interest  shall accrue to and be paid to the   affected tax jurisdiction on the total amount due plus  a  late  payment   penalty  in  the  amount  of  one percent per month until the payment is   made.7. An affected tax jurisdiction which has not received  a  payment  in   lieu  of taxes due to it under an agreement may commence legal action in   any court of competent jurisdiction directly against any  person,  firm,   corporation,  organization or agency which is obligated to make payments   in lieu of taxes under an agreement and has failed to do so. In such  an   action,  the  affected tax jurisdiction shall be entitled to recover the   amount due, the late payment  penalty,  interest,  expenses,  costs  and   disbursements  together with the reasonable attorneys' fees necessary to   prosecute such action. Nothing herein shall be construed as providing an   affected tax jurisdiction with the right to  sue  and  recover  from  an   agency  which  has not received payments in lieu of taxes from a project   occupant.8. Any refinancing of a project shall be subject to the provisions  of   section  twenty-three  hundred  seven of this chapter, except where such   refinancing was previously approved pursuant to such section.9. Agents of the authority and project operators shall annually file a   statement with the state department of taxation and finance, on  a  form   and  in  such  a manner as is prescribed by the commissioner of taxation   and finance, of the value of all sales and use tax exemptions claimed by   such agents or agents of such agents or  project  operators,  including,   but  not  limited  to,  consultants  or subcontractors of such agents or   project operators under the authority granted pursuant to this  section.    The  penalty  for  failure  to  file such statements shall be removal of   authority to act as agent of the authority or project operator.