NY Pub Auth L § 1225-G (2021)
2021 New York Laws PBA - Public Authorities Article 5 - Public Utility Authorities Title 9-A - Transit Construction Fund 1225-G - Agreement With the Transportation Authority.

§  1225-g.  Agreement with the transportation authority. (a) To enable the fund to realize its public and governmental purpose,  the  fund  may enter  into  agreements  with the transportation authority, to which the transit authority may be a party, pursuant to which  the  transportation authority  may  plan,  design,  construct, acquire, extend, reconstruct, rehabilitate, modernize, or otherwise improve any transit facility,  and the  fund  may  lease  any such transit facility from the transportation authority. The fund may apply the resources of the fund to  the  payment of  rentals  and other payments required from the fund by any such lease or other agreement and may pledge such resources as  security  for  such payments  to the transportation authority with respect to such leases or other agreements.  (b) To further enable the fund to realize its public and  governmental purpose,  the  fund  may  enter  into agreements with the transportation authority, to which the transit authority may be a party, for  planning, design and feasibility studies, provided or caused to be provided by the transportation authority.  (c)  Neither  the state, nor the city, nor the transit authority shall be liable for any rentals or other payments payable by the fund  to  the transportation  authority  pursuant  to  the terms of any lease or other agreement entered into by the fund under this title; and the city  shall not  be  required  to  pay  for  all  or part of the cost of any transit facility provided pursuant to  this  title.  Any  such  lease  or  other agreement shall contain among its terms a statement to that effect.  (d)  A schedule of transit facilities authorized to be provided by the fund in accordance with the provisions of this title may be  adopted  as hereinafter  provided,  and  the  fund shall not enter into any lease or other agreement obligating the fund to pay money to  the  transportation authority unless such lease or other agreement shall relate to a transit facility  contained  in  such  schedule;  nor  unless,  in the case of a transit facility which consists of a rapid transit railroad  or  portion thereof,  a  route and general plan for such transit facility shall have been previously approved pursuant to the provisions of the rapid transit law. The mayor, city council and city board of estimate shall  have  the power  to  adopt,  veto,  and amend such schedule and the amounts stated therein in the same manner provided under the city charter  for  capital projects. Such schedule shall not be deemed a part of the city's capital budget  and  the transit facilities contained in such schedule shall not be deemed city  capital  projects.  Such  schedule  shall  be  published together  with  the  capital  budget  accompanied by a statement to this effect. Such schedule shall specify the maximum amount  of  indebtedness secured by and payable from rental or other payments receivable from the fund  which  the transportation authority may incur with respect to each transit facility therein set forth. The fund shall not  enter  into  any lease  or  other  agreement  which  provides  or  contemplates  that the transportation authority shall incur such indebtedness  (i)  which,  for any  such  transit  facility  would exceed the amounts specified in such schedule, which amount shall not  be  reduced  or  rescinded  except  by amendment  and  shall  in  no  event be reduced or rescinded by the city after such lease or  other  agreement  has  been  executed  without  the written  consent  of  the  transportation authority, or (ii) which would bring the aggregate amount of such indebtedness  of  the  transportation authority  incurred pursuant to this title to an amount in excess of two hundred fifty million  dollars.  Notwithstanding  any  other  limitation herein  prescribed, the mayor shall increase the amount so specified for any such transit facility by the  amount  necessary  to  pay  judgments, claims  or  awards including interest thereon against the transportation authority arising out of work undertaken pursuant to any such agreement,  and the mayor may increase the amount so  specified  by  not  more  than fifteen  per  cent  in order to meet any costs required to complete such transit facility, or by any amount required  to  complete  such  transit facility  when  the cost to complete such transit facility has increased due to catastrophe. In the event  that  the  mayor  shall  increase  the amount  so  specified  for  any  such  transit  facility  for any of the foregoing reasons, the  limitation  on  the  aggregate  amount  of  such indebtedness of the transportation authority which may be outstanding at any  one  time shall be increased by the same amount. In calculating the aggregate amount of such indebtedness of  the  transportation  authority which  may  be increased pursuant to this title, there shall be excluded the amount of outstanding obligations to be refunded  or  received  from the  proceeds  from the sale of, or to be exchanged for new obligations. Nothing herein contained shall be construed to require the fund  or  the transportation  authority  to  enter  into  any lease or other agreement relating to one or more of the  transit  facilities  contained  in  such schedule.