NY Pub Auth L § 1045-C (2021)
2021 New York Laws PBA - Public Authorities Article 5 - Public Utility Authorities Title 2-A - New York City Municipal Water Finance Authority 1045-C - New York City Municipal Water Finance Authority.

§  1045-c.  New  York  city  municipal  water  finance authority. 1. A   corporation known as the New York city municipal water finance authority   is hereby created for public purposes and charged with  the  duties  and   having  the powers provided in this title. The authority shall be a body   corporate and politic constituting  a  public  benefit  corporation.  It   shall  be  administered  by  a  board  of  directors consisting of seven   members as follows: the commissioner of environmental protection of  the   city, the state commissioner of environmental conservation, the director   of management and budget of the city, the commissioner of finance of the   city,  two  public  members  to be appointed by the mayor and one public   member to be appointed by the governor. One public member  appointed  by   the  mayor  shall  serve  for  a  term  of  one  year, one public member   appointed by the mayor shall serve for a term  of  two  years,  and  the   public  member  appointed  by the governor shall serve for a term of two   years from January first next succeeding the date of their  appointment.   Their  successors shall serve for terms of two years each. Members shall   continue in office  until  their  successors  have  been  appointed  and   qualified.  The  mayor  or the governor shall fill any vacancy which may   occur  by  reason  of  death,  resignation  or  otherwise  in  a  manner   consistent with the original appointment. A public member may be removed   by  the  mayor  or the governor, whichever appointed him, for cause, but   not without an opportunity to be heard in person or by counsel,  in  his   defense,  upon  not less than ten days' notice. The mayor shall select a   chairman from among the directors appointed by him who  shall  serve  in   such  capacity  at  his  pleasure.  The  chairman shall preside over all   meetings of the board of directors and shall have such other  duties  as   may be prescribed by the board.2.  Each  director  who  is  a  public  member  shall  be  entitled to   reimbursement for his actual and  necessary  expenses  incurred  in  the   performance  of  his  official  duties  and  a per diem allowance of one   hundred fifty dollars when rendering service as such director,  provided   that the aggregate of such per diem allowance to any one director in any   one  fiscal  year  of  the  authority  shall  not exceed the sum of five   thousand dollars.3. Such public members may engage  in  private  employment,  or  in  a   profession or business, subject to the limitations contained in sections   twenty-six hundred four, twenty-six hundred five, twenty-six hundred six   and  twenty-six  hundred  seven of the New York city charter for members   appointed by the mayor, and subject  to  the  limitations  contained  in   sections  seventy-three  and seventy-four of the public officers law for   members appointed by the governor. The authority shall, for the purposes   of such sections be a "city agency" or a "state agency," as the case may   be and such directors shall be  "officers"  of  the  authority  for  the   purposes of such sections.4.  Four  directors  of  the  authority of whom at least three members   shall be ex officio shall constitute a quorum for the transaction of any   business or the exercise of any  power  of  the  authority.  Resolutions   authorizing  the  issuance  of  bonds  or  notes  of  the  authority and   resolutions authorizing any loan, lease,  sale  or  other  agreement  in   respect  to  a  water  project  shall  be approved by not less than four   members of the authority at a meeting duly called for such  purposes  at   which  a  quorum  is in attendance, but for the transaction of any other   business or the performance of  any  other  power  or  function  of  the   authority, the authority may act by a majority of the members present at   any  meeting  at  which  a  quorum  is  in attendance. The authority may   delegate to one or more of its directors, or its  officers,  agents  and   employees,   such   powers  and  duties  as  it  may  deem  proper.  The   commissioner  of  environmental  protection  of  the  city,  the   state    commissioner  of  environmental conservation, the director of management   and budget of the city, and the commissioner of finance of the city  may   each,  by  written instrument, filed with and approved as to form by the   authority,   designate   a  deputy  or  assistant  in  their  respective   departments or offices, to perform, in their absence,  their  respective   duties under this title. The term "director" as used in this subdivision   shall  include  such  persons  so  designated  as  provided  herein. The   designation of such persons shall be deemed temporary only and shall not   affect the  civil  service  or  retirement  rights  of  any  persons  so   designated.5.  Notwithstanding  any  inconsistent provisions of this or any other   law, general, special or  local,  or  of  any  charter,  no  officer  or   employee  of the city or the state, shall be deemed to have forfeited or   shall forfeit his office or employment or any  benefits  provided  under   the  retirement  and  social security law by reason of his acceptance of   membership on the authority, provided,  however,  that  a  director  who   holds such other public office or employment shall receive no additional   compensation  for services rendered pursuant to this title, but shall be   entitled to reimbursement for his actual and necessary expenses incurred   in the performance of such services.6. The authority and its  corporate  existence  shall  continue  until   terminated by law, provided, however, that no such law shall take effect   so  long  as  the  authority  shall  have  bonds  or  other  obligations   outstanding unless adequate provision has been made for the  payment  or   satisfaction   thereof.   Upon  termination  of  the  existence  of  the   authority, all of the  rights  and  properties  of  the  authority  then   remaining  shall pass to and vest in the city except as otherwise may be   specified in such law.7. It is hereby determined and declared that  the  authority  and  the   carrying  out  of  its  powers  and  duties  are in all respects for the   benefit of the people of the city and the state for the  improvement  of   their  health,  welfare and prosperity and that such purposes are public   purposes and that the authority is and will be performing  an  essential   governmental function in the exercise of the powers conferred upon it by   this title.8.  Nothing  in this title shall be construed to obligate the state in   any way  in  connection  with  the  operations  or  obligations  of  the   authority.