2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 4 - Dormitory Authority › 1680-J*2 - Authorization for the Issuance of Bonds for the Health Care Efficiency and Affordability Law for New Yorkers (Heal Ny) Capital Grant Program.

* §  1680-j.  Authorization  for  the issuance of bonds for the health
  care efficiency and affordability law for New Yorkers (HEAL NY)  capital
  grant  program.  Notwithstanding  any  other  provision  of  law  to the
  contrary, the dormitory authority of the state of  New  York  is  hereby
  authorized to issue bonds or notes in one or more series in an aggregate
  principal  amount  not  to  exceed  seven  hundred fifty million dollars
  excluding bonds issued to fund one or more debt service  reserve  funds,
  to  pay  costs  of  issuance of such bonds, and bonds or notes issued to
  refund or otherwise repay such bonds or notes previously issued, for the
  purposes  of  financing   project   costs   authorized   under   section
  twenty-eight  hundred  eighteen  of the public health law. Of such seven
  hundred fifty  million  dollars,  ten  million  dollars  shall  be  made
  available  to  the  community health centers capital program established
  pursuant to section twenty-eight hundred seventeen of the public  health
  law.
1. Such bonds and notes of the dormitory authority shall not be a debt
  of  the  state and the state shall not be liable thereon, nor shall they
  be payable out of any funds other than those appropriated by  the  state
  to  the  authority for debt service and related expenses pursuant to any
  service contract executed pursuant to subdivision two of  this  section,
  and  such  bonds and notes shall contain on the face thereof a statement
  to such effect. Except for  purposes  of  complying  with  the  internal
  revenue  code, any interest income earned on bond proceeds shall only be
  used to pay debt service on such bonds. All of  the  provisions  of  the
  dormitory  authority  act  relating  to  bonds  and  notes which are not
  inconsistent  with  the  provisions  of  this  section  shall  apply  to
  obligations authorized by this section, including but not limited to the
  power  to  establish  adequate  reserves  therefore and to issue renewal
  notes or refunding bonds thereof. The issuance of  any  bonds  or  notes
  hereunder  shall  further  be subject to the approval of the director of
  the division of the budget, and any projects funded through the issuance
  of bonds or notes hereunder shall be approved  by  the  New  York  state
  public authorities control board, as required under section fifty-one of
  this chapter.
2.  Notwithstanding any other law, rule or regulation to the contrary,
  in  order  to  assist  the  dormitory  authority  in   undertaking   the
  administration  and financing of projects authorized under this section,
  the director of the budget is hereby authorized to  enter  into  one  or
  more service contracts with the dormitory authority, none of which shall
  exceed  more  than  thirty  years  in  duration,  upon  such  terms  and
  conditions as the director of the budget  and  the  dormitory  authority
  agree,  so  as  to  annually  provide to the dormitory authority, in the
  aggregate, a sum not to exceed the  annual  debt  service  payments  and
  related  expenses  required  for  the bonds and notes issued pursuant to
  this section.  Any  service  contract  entered  into  pursuant  to  this
  subdivision  shall  provide  that the obligation of the state to pay the
  amount therein provided shall not constitute a debt of the state  within
  the  meaning  of  any constitutional or statutory provision and shall be
  deemed executory only to the extent of  monies  available  and  that  no
  liability shall be incurred by the state beyond the monies available for
  such  purposes,  subject to annual appropriation by the legislature. Any
  such contract or any payments made or  to  be  made  thereunder  may  be
  assigned or pledged by the dormitory authority as security for its bonds
  and notes, as authorized by this section.
3.  Notwithstanding  any  law  to the contrary, and in accordance with
  section four of  the  state  finance  law,  the  comptroller  is  hereby
  authorized  and  directed  to  transfer  from the health care reform act
  (HCRA) resources fund (061) to the general fund, upon the request of the

  director of the budget, up to $6,500,000 on or before  March  31,  2006,
  and  the  comptroller  is  further  hereby  authorized  and  directed to
  transfer from the healthcare reform act (HCRA); Resources fund (061)  to
  the  Capital  Projects Fund, upon the request of the director of budget,
  up to $139,000,000 for the period April 1, 2006 through March 31,  2007,
  up  to $171,100,000 for the period April 1, 2007 through March 31, 2008,
  up to $208,100,000 for the period April 1, 2008 through March 31,  2009,
  up  to $151,600,000 for the period April 1, 2009 through March 31, 2010,
  up to $215,743,000 for the period April 1, 2010 through March 31,  2011,
  up  to $433,366,000 for the period April 1, 2011 through March 31, 2012,
  up to $150,806,000 for the period April 1, 2012 through March 31,  2013,
  up  to  $78,071,000 for the period April 1, 2013 through March 31, 2014,
  and up to $86,005,000 for the period April 1,  2014  through  March  31,
  2015,  and  up  to  $86,005,000  for  the  period  April 1, 2015 through
  December 31, 2017.
* NB There are 2 § 1680-j's