NY Pub Auth L § 2784 (2021)
2021 New York Laws PBA - Public Authorities Article 8 - Miscellaneous Authorities Title 32 - Albany County Airport Authority 2784 - County Approval of Capital Projects.

§ 2784. County approval of capital projects. 1. It is the intention of the  county  to  select  and  approve  a  specific airport redevelopment program for the Albany county airport upon  completion  of  the  federal aviation   administration   and  New  York  state  environmental  review processes initiated in January of nineteen hundred ninety-two by  Albany county  for the Albany county airport development project, which project is identified in the  "Draft  SEQR  Environmental  Impact  Statement/FAA Environmental  Assessment  prepared  for  the FAA/Eastern Region and the Albany County Legislature," by Louis Berger & Associates, Inc. and which two volume document was accepted as complete and adequate for public and agency review by Resolution one hundred fifty-seven of nineteen  hundred ninety-three  (March  8,  1993). The Albany county airport redevelopment program will be determined by the Albany county legislature as  part  of the  adoption  of  a  state  environmental  quality  review act findings statement  for  said  environmental  impact  statement.    The   airport redevelopment  program  referred  to  in  this  subdivision shall not be subject to the provisions of subdivision two of this section.   2. No capital project, other than the redevelopment project  described in subdivision one of this section, shall be undertaken by the authority unless  it  shall  first have been approved by the county legislature as part of a five-year capital program plan. For purposes of this  section, the  term  "capital  project"  shall  be  defined  as  the construction, reconstruction or acquisition of airport or aviation facilities.   3. (a) On or before September first, nineteen hundred ninety-five, and on or before  September  first  of  every  fifth  year  thereafter,  the authority shall submit to the county legislature a capital projects plan for the five year period commencing January first of the following year. The  plan  shall  set  goals  and  objectives  for  capital spending and describe each capital project proposed to be initiated in  each  of  the years covered by the plan. Each plan shall also set forth an estimate of the  amount  of  capital  funding  required  each  year and the expected sources of such funding. Each plan subsequent to the first such plan and each proposed amendment or modification thereof shall also describe  the current  status  of  capital  projects  included  in previously approved plans.  (b) (1) A plan may be approved by the county legislature by a majority vote of the members. If the plan is not voted on within ninety  days  of its  submission  to  the  legislature,  it  shall  be  deemed  approved; provided, however, that the legislature may agree  to  extend  the  time period in which it must vote on the plan.  (2)  If  the  plan  is  not  approved,  the  authority  may thereafter reformulate and resubmit for approval such plan  at  any  time.  If  the reformulated  plan  is  not  voted  on  within  forty-five  days  of its submission to the legislature, it shall be  deemed  approved;  provided, however,  that  the  legislature  may agree to extend the time period in which it must vote on the reformulated plan.  (c) The  authority  may  from  time  to  time  submit  to  the  county amendments   or   modifications  to  the  plan.  If  the  amendments  or modifications are not voted on within forty-five days of its  submission to the legislature, it shall be deemed approved; provided, however, that the  legislature  may  agree  to extend the time period in which it must vote on the amended or modified plan.   4. The disapproval of a plan  by  the  county  legislature  shall  not affect:  (a)  the  right  of  the  authority  to issue bonds or notes to finance a capital project which was initiated prior to such  disapproval in  conformity  with  a  previously  approved plan; (b) the right of the authority  to  issue  its  bonds,  notes,  lease,  sublease   or   other contractual obligations in payment for a project initiated prior to such  disapproval in conformity with a previously approved plan; (c) the right of  the  authority  to issue bonds or notes to refund or otherwise repay any of its outstanding bonds  or  notes  or  to  fulfill  any  of  their obligations  to  the holders of any of their outstanding bonds or notes; or (d) the right of the authority to  issue  its  bonds,  notes,  lease, sublease  or  other contractual obligations to refund or otherwise repay any of its  outstanding  bonds  or  notes  or  to  fulfill  any  of  its obligations to the holders of any of its outstanding bonds or notes.