NY Pub Auth L § 3034 (2021)
2021 New York Laws PBA - Public Authorities Article 10 - New York State Municipal Assistance Corporation Act Title 3 - Municipal Assistance Corporation for the City of New York 3034 - Administration of the Corporation.

* §  3034. Administration of the corporation. 1. The corporation shall   be administered by a board of directors, consisting of  nine  directors,   none of whom shall be officers or employees of the federal government or   of  the  state  or  political subdivisions thereof. All of the directors   shall be appointed by the governor with the advice and  consent  of  the   senate,  provided  that  four  of such directors shall be appointed upon   written  recommendation  of  the  mayor.  Of  the  directors   initially   appointed  upon the written recommendation of the mayor, one shall serve   for a term ending December thirty-first, nineteen  hundred  seventy-six;   one  shall  serve  for  a  term  ending  December thirty-first, nineteen   hundred seventy-seven; one  shall  serve  for  a  term  ending  December   thirty-first,  nineteen hundred seventy-eight; and one shall serve for a   term ending December thirty-first, nineteen hundred seventy-nine. Of the   remaining directors initially appointed by the governor, one shall serve   for a term ending December thirty-first, nineteen  hundred  seventy-six;   one  shall  serve  for  a  term  ending  December thirty-first, nineteen   hundred seventy-seven; one  shall  serve  for  a  term  ending  December   thirty-first,  nineteen hundred seventy-eight; and two shall serve for a   term ending December thirty-first, nineteen hundred  seventy-nine.  Each   director  shall  hold  office until his successor has been appointed and   qualified.  Thereafter each director appointed  by  the  governor  shall   serve a term of four years, except that any director appointed to fill a   vacancy shall serve only until the expiration of his predecessor's term.2.  The speaker and the minority leader of the assembly, the president   pro-tem and the minority  leader  of  the  senate,  the  city  board  of   estimate  acting  by  majority  vote,  and the vice-chairman of the city   council, shall each be entitled to appoint a representative to the board   of directors. Each such representative  shall  be  entitled  to  receive   notice of and to attend all meetings of the board of directors but shall   not  be  entitled  to  vote.  No  representative shall be an employee or   officer of the federal, state or city governments.  Each  representative   shall serve at the pleasure of the appointing official or body, shall be   eligible  for  reappointment,  and shall hold office until his successor   has been appointed.3. The corporation shall have the power to make and execute  contracts   to  pay  the  expenses  of  operation of the emergency financial control   board for the city of  New  York,  within  the  appropriation  available   therefor and including the repayment to the state of any advance to such   board  under  any  agreement  between  the board and the director of the   budget, out of  any  revenues  available  to  the  corporation  and  not   otherwise pledged except the proceeds of its notes and bonds.* NB The  corporation  shall  continue  for a term ending the later of   July 1, 2008 or one year after its liabilities have been fully paid  and   discharged per § 3033 sub 1.