NY Educ L § 6276 (2021)
2021 New York Laws EDN - Education Title 7 - State and City Colleges and Institutions-Cornell University Article 125-B - City University Construction Fund 6276 - Agreements With Dormitory Authority.

§ 6276. Agreements  with  dormitory  authority.  (a)  To  fulfill  the purposes  contained  in  subdivision  a  of  section  sixty-two  hundred seventy-three of this article, the fund may enter into leases, subleases or  other  agreements with the dormitory authority to which the board of higher education may be a party under which the  authority  may  provide facilities  for  the use of the city university. The fund may enter into an agreement with the dormitory authority to which the board  of  higher education  and  the  city  of  New York shall be parties under which the authority may  acquire,  design,  construct  or  otherwise  provide  and furnish  and  equip  facilities  for the use of Hunter College which may include therein a police and fire station upon a site set forth  in  and in  accordance  with  the  terms  of  such  agreement,  as authorized in paragraph f of subdivision two of section sixteen hundred eighty of  the public  authorities  law.  The provisions of the dormitory authority act shall govern the relationships of the dormitory authority, the fund, and the board of higher education in the city of New York  with  respect  to all  such  leases, subleases or other agreements and actions thereunder, and the fund may apply to the payment  of  rentals  and  other  payments required from the fund by any such leases, subleases or other agreements and  may pledge as security for such payments to the dormitory authority with respect to such leases, subleases or other agreements all  or  part of  the  resources  of the fund. The dormitory authority shall not issue obligations for the provision of a senior or community college  facility unless  a  certificate of availability of funds has been approved by the director of the budget and an appropriation for such facility  has  been enacted.  (b)  Neither  the  state,  nor  the city or the city university of New York, shall be liable for any rentals payable by the  fund  pursuant  to the  terms of any lease, sublease or other agreement entered into by the fund under this article. Any such lease,  sublease  or  other  agreement shall contain among its terms a statement to that effect.  (c)  Housing  units provided under this article for faculty, staff and married students and the families thereof shall  be  used  and  occupied pursuant  to  leases  or other agreements between the faculty, staff and married students and the city university, the provisions of  which  have been  approved  by  the  dormitory  authority  and  the  city university construction fund. There shall be paid to the city university,  pursuant to  such  leases  or other agreements by such faculty, staff and married students,  except  the  chancellor  of  the  city  university  and   the presidents  of  any  of  the  senior  colleges  or graduate institutions thereof and their families, rentals, the total amount of  receipts  from which  rentals  in  each city fiscal year is to be at least equal to (i) the portion of the rentals to be paid to the dormitory authority by  the fund  in  that city fiscal year which is allocable to such housing units and (ii) the expense of all direct and indirect costs  of  operation  of such housing units. From such receipts the city university shall account for and pay to the fund an amount equal to the portion of the rentals to be  paid to the dormitory authority by the fund in that city fiscal year which is allocable to such housing units, and the fund  shall  pay  such amount  to  the  dormitory  authority  in accordance with its agreements therewith. The estimated amount of rentals  allocable  to  such  housing units shall be separately stated from the amount required to be included in  the city university construction fund's report submitted pursuant to clause  three  of  subdivision  seven  of  section   sixty-two   hundred seventy-four  of  this  article  and shall not be included in the amount equal to the aggregate of all rentals and such other payments due to the dormitory authority from the fund of which the state and city  are  each  obligated  to  pay  to  the  fund one-half pursuant to section sixty-two hundred seventy-nine of this article.  (d)  Any  pledge  of  or  other security interest in moneys, earnings, income, revenues, accounts,  contract  rights,  general  intangibles  or other personal property, or any other resources held, made or created by the  fund  or  on its behalf by any duly authorized officer, employee or agent thereof including the comptroller of the city  of  New  York  when acting  as  agent  pursuant  to  this  article or by any other person to secure such person's obligations to the fund, shall  be  valid,  binding and  perfected from the time when such pledge or other security interest attaches, without any physical delivery of  the  collateral  or  further act.  The  lien  of  any such pledge or other security interest shall be valid, binding and perfected as against all parties having claims of any kind in tort, contract or otherwise against  the  fund  irrespective  of whether  or not such parties have notice thereof. No instrument by which such a pledge or other security interest is created  nor  any  financing statement  need  be  recorded  or  filed.  This  subdivision shall apply notwithstanding the provisions of the uniform commercial code.