reglab/statecodes huggingface dataset:
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 31 - Monroe County Airport Authority › 2770 - Agreements Relating to Payment in Lieu of Taxes.

§  2770.  Agreements relating to payment in lieu of taxes. 1. In order
  to assure that municipalities may not suffer  undue  loss  of  taxes  or
  assessments  in  the  event that the authority acquires any airport from
  the county, any person paying real property taxes or assessments  as  of
  the  date  of  the transfer of title from the county to the authority on
  any property located within any such airport shall make payments in lieu
  of taxes in an amount equal  to  the  sums  which  would  ordinarily  be
  imposed  as taxes by any municipality in which such property is located,
  pursuant to the prevailing method of determining taxes and assessments.
2. Subject to any agreement with bondholders, the authority  may,  but
  is  not  required to, enter into agreements with any municipality of the
  state to pay annual sums in lieu of taxes to any  such  municipality  in
  respect  of any real property which is owned by the authority is located
  in such municipality  and  is  used  for  public  aviation  purposes  or
  pollution  control  purposes.  For  the  purposes  of this section, such
  public aviation purposes shall include without limitation  air  terminal
  facilities, parking facilities, fuel facilities, maintenance facilities,
  and  facilities  for  the  loading,  unloading,  holding, interchange or
  transfer of passengers, freight, baggage or cargo.
3. In the event that any real property owned by the authority is  used
  or is to be used by the authority or a lessee thereof for purposes other
  than  public aviation purposes, the authority, or lessee thereof, as the
  case may be, shall enter into agreements with any  municipality  of  the
  state  to  pay  annual  sums  in  lieu  of taxes in respect of such real
  property located in such municipality. For the purposes of this section,
  such purposes other than public aviation purposes shall include  without
  limitation hotels, motels, restaurants and retail stores and concessions
  not  located  within  any air terminal building, office buildings to the
  extent not used by the authority or any other public corporation for its
  own corporate purposes, and such other  buildings  and  improvements  as
  determined  by  the  authority to be not exclusively for public aviation
  purposes.
The authority shall determine (i) the amount of such  annual  payments
  in  lieu of taxes, (ii) whether the use of such property is for purposes
  other than public aviation purposes and (iii) the extent to  which  such
  property  is  used  for purposes other than public aviation purposes. In
  making such determinations the authority shall take  into  consideration
  the recommendations, if any, of the county.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 31 - Monroe County Airport Authority › 2771 - Audit and Annual Report.

§  2771. Audit and annual report. In conformity with the provisions of
  section five of article ten of the constitution,  the  accounts  of  the
  authority  shall  be subject to the supervision of the state comptroller
  and an annual audit shall  be  performed  by  an  independent  certified
  accountant.  The authority shall annually submit to the governor and the
  state comptroller and to the chairperson of the senate finance committee
  and the chairperson of assembly ways  and  means  committee  a  detailed
  report  pursuant to the provisions of section two thousand eight hundred
  of title one of article nine of this chapter, and a copy of such  report
  shall  be  filed with the clerk of the county legislature and the county
  executive.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 31 - Monroe County Airport Authority › 2772 - Limited Liability.

§  2772.  Limited liability. Neither members, officers or employees of
  the authority, nor any municipality, or an officer or  employee  thereof
  acting  on  behalf  of  the  authority, while acting within the scope of
  their authority, shall be subject to any  personal  liability  resulting
  from the construction, maintenance or operation of any of the properties
  of  the authority or from carrying out any of the powers expressly given
  in this title provided, however, that this section shall not be held  to
  apply to any independent contractor.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 31 - Monroe County Airport Authority › 2773 - Transfer of Applications, Proceedings, Approvals and Permits.

§  2773. Transfer of applications, proceedings, approvals and permits.
  1. Any application, review or process in relation to or  in  furtherance
  of  the  purposes  of  or contemplated by this title heretofore filed or
  undertaken, or any proceeding heretofore commenced or any determination,
  finding or award made, by the county or by the county with  the  federal
  government,  the  state  department  of  environmental conservation, the
  state department of transportation or any other public corporation shall
  inure to and for the benefit of the authority to the same extent and  in
  the  same  manner  as  if  the  authority  had  been  a  party  to  such
  application, review, process or proceeding from its inception,  and  the
  authority  shall be deemed a party thereto, to the extent not prohibited
  by any  federal  law.  Any  license,  approval,  permit,  determination,
  finding,  award  or  decision  heretofore or hereafter issued or granted
  pursuant to or as a result of any such application, review,  process  or
  proceeding  shall  inure  to  the  benefit  of  and  be binding upon the
  authority and shall be assigned and transferred by  the  county  to  the
  authority  unless  such assignment and transfer is prohibited by federal
  law.
2. All such applications, proceedings, licenses,  approvals,  permits,
  determinations,  findings,  awards  and decisions shall further inure to
  and for  the  benefit  of  and  be  binding  upon  any  person  leasing,
  acquiring,  financing,  constructing,  maintaining,  operating, using or
  occupying any facility financed in whole or in part by the authority.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 31 - Monroe County Airport Authority › 2774 - Separability.

§  2774. Separability. If any clause, sentence, paragraph, section, or
  part of  this  title  shall  be  adjudged  by  any  court  of  competent
  jurisdiction  to  be  invalid, such judgment shall not affect, impair or
  invalidate the remainder thereof, but shall be confined in its operation
  to the clause, sentence, paragraph, section, or part thereof involved in
  the controversy in which such judgment shall have been rendered.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 31 - Monroe County Airport Authority › 2775 - Effect of Inconsistent Provisions.

§ 2775. Effect of inconsistent provisions. In so far as the provisions
  of  this  title  are  inconsistent with the provisions of any other act,
  general or special, or of the county charter or any local law,  charter,
  ordinance  or  resolution  of  the county or any other municipality, the
  provisions of this title shall be controlling. Nothing contained in this
  section shall be held to supplement or otherwise expand  the  powers  or
  duties  of  the  authority  otherwise set forth in this title. Except as
  specifically provided for in this title, in the performance  of  any  of
  its  functions, powers and duties, the authority shall be subject to all
  applicable general or special laws of the state, the county charter, and
  any local law, ordinance or resolution of the county.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 32 - Albany County Airport Authority › 2781 - Transfer of Officers and Employees.

§  2781. Transfer of officers and employees. 1. In accordance with the
  provisions of section seventy of the civil service law, any  officer  or
  employee  of  the  county, may, at the request of the authority and with
  the consent of the county executive, be transferred to the authority and
  shall be eligible for such transfer  and  appointment,  without  further
  examination,  to  applicable offices, positions and employment under the
  authority.  Any  such  officers  or  employees  so  transferred  to  the
  authority  pursuant to this section, who are members of or benefit under
  any existing pension or retirement fund or  system,  shall  continue  to
  have all rights, privileges, obligations and status with respect to such
  fund  or  system  as are now prescribed by law, but during the period of
  their employment by the authority, all contributions to  such  funds  or
  systems  to  be  paid  by  the  employer  on account of such officers or
  employees shall be paid by the authority.
2.  A  transferred  employee  shall  remain  in  the  same  collective
  bargaining  unit as was the case prior to his or her transfer; successor
  employees to the positions held by  such  transferred  employees  shall,
  consistent  with the provisions of article fourteen of the civil service
  law, be included in the  same  unit  as  their  predecessors.  Employees
  serving  in  positions  in newly created titles shall be assigned to the
  same collective bargaining unit as they would have been assigned to such
  unit were  such  titles  created  prior  to  the  establishment  of  the
  authority.  Nothing  contained  in  this title shall be construed (a) to
  diminish the rights of employees pursuant  to  a  collective  bargaining
  agreement  or  (b) to affect existing law with respect to an application
  to the public employment relations board seeking a  designation  by  the
  board that certain persons are managerial or confidential.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 32 - Albany County Airport Authority › 2787 - State and County Not Liable on Authority Bonds.

§  2787.  State  and county not liable on authority bonds. Neither the
  state nor the county shall be liable on the bonds of the  authority  and
  such  bonds  shall  not  be  a debt of the state or the county, and such
  bonds shall contain on the face thereof a statement to such effect.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 32 - Albany County Airport Authority › 2788 - Monies of the Authority.

§  2788.  Monies  of  the  authority. All monies of the authority from
  whatever source derived shall be paid to the treasurer of the  authority
  and  shall  be  deposited forthwith in a bank or banks designated by the
  authority. The monies in such accounts shall be paid out on check of the
  treasurer upon requisition by such person or persons  as  the  authority
  may  authorize  to  make  such requisitions. All deposits of such monies
  shall be secured by obligations of the United States or of the state  or
  of  any  municipality of a market value equal at all times to the amount
  on deposit and all banks and trust companies are authorized to give such
  security for such deposits. To the extent practicable,  consistent  with
  the  cash  requirements  of  the  authority,  all  such  monies shall be
  deposited in interest bearing accounts. The authority shall have  power,
  notwithstanding  the  provisions  of  this section, to contract with the
  holders of any bonds as to the custody, collection, security, investment
  and payment of any monies of the authority or any monies held  in  trust
  or  otherwise  for  the payment of bonds or any way to secure bonds, and
  carry out any such contract notwithstanding that such  contract  may  be
  inconsistent  with  the provisions of this section. Monies held in trust
  or otherwise for the payment of bonds or in any way to secure bonds  and
  deposits  of  such monies may be secured in the same manner as monies of
  the authority and all banks and trust companies are authorized  to  give
  such  security  for  such  deposits.  Any  monies  of  the authority not
  required for immediate use or disbursement may, at the discretion of the
  authority, be invested in those obligations specified  pursuant  to  the
  provision of section ninety-eight-a of the state finance law. Subject to
  the  provisions  of any contract with bond holders and with the approval
  of the state comptroller, the authority  shall  prescribe  a  system  of
  accounts.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 32 - Albany County Airport Authority › 2789 - Bonds Legal Investment for Fiduciaries.

§  2789.  Bonds  legal  investment  for  fiduciaries. The bonds of the
  authority are hereby made securities in which all  public  officers  and
  bodies  of the state and all municipalities, all insurance companies and
  associations and other persons carrying on an  insurance  business,  all
  banks, bankers, trust companies, savings banks and savings associations,
  including savings and loan associations, building and loan associations,
  investment  companies  and other persons carrying on a banking business,
  and administrators, guardians, executors, trustees and other fiduciaries
  and all other persons whatsoever,  who  are  now  or  may  hereafter  be
  authorized  to  invest  in  bonds  or other obligations of the state may
  properly and legally invest funds including capital in their control  or
  belonging  to  them.  Notwithstanding other provisions of law, the bonds
  are also hereby made securities which may be deposited with and  may  be
  received  by  all  public  officers  and  bodies  of  the  state and all
  municipalities for any purposes for which the deposit of bonds or  other
  obligations of this state is now or hereafter may be authorized.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 32 - Albany County Airport Authority › 2790 - Agreement With State.

§  2790.  Agreement  with  state.  The state does hereby pledge to and
  agree with the holders of any bonds issued by the authority pursuant  to
  this  title  and with those persons or public corporations who may enter
  into contracts with the authority pursuant to  the  provisions  of  this
  title  that  the state will not alter, limit or impair the rights hereby
  vested in  the  authority  to  purchase,  construct,  own  and  operate,
  maintain, repair, improve, reconstruct, renovate, rehabilitate, enlarge,
  increase  and  extend,  or  dispose of any project, or any part or parts
  thereof for which bonds of the authority  shall  have  been  issued,  to
  establish  and  collect rates, rents, fees and other charges referred to
  in this title, to fulfill the terms of any contracts or agreements  made
  with  or  for  the benefit of the holders of bonds or with any person or
  public corporation with reference to such project or part thereof, or in
  any way to impair the rights and remedies of the holders of bonds, until
  the bonds, together with interest thereon,  including  interest  on  any
  unpaid   installments  of  interest,  and  all  costs  and  expenses  in
  connection with any action or proceeding by or on behalf of the  holders
  of  bonds,  are  fully  met  and discharged and such contracts are fully
  performed on the part of the authority. The authority is  authorized  to
  include this pledge and agreement of the state in any agreement with the
  holders of bonds.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 32 - Albany County Airport Authority › 2791 - Agreement With County.

§  2791.  Agreement with county. The county is authorized to pledge to
  and agree with the holders of any bonds issued by the authority pursuant
  to this title and with those persons  or  public  corporations  who  may
  enter  into  contracts  with the authority pursuant to the provisions of
  this title that the county will not alter, limit or  impair  the  rights
  hereby  vested in the authority to purchase, construct, own and operate,
  maintain, repair, improve, reconstruct, renovate, rehabilitate, enlarge,
  increase and extend, or dispose of any project, or  any  part  or  parts
  thereof,  for  which  bonds  of the authority shall have been issued, to
  establish and collect rates, rents, fees and other charges  referred  to
  in  this  title,  to  fulfill  the terms of any agreements made with the
  holders of the bonds or with  any  public  corporation  or  person  with
  reference  to  such  project  or  part thereof, or in any way impair the
  rights and remedies of the holders of bonds, until the  bonds,  together
  with  interest thereon, including interest on any unpaid installments of
  interest, and all cost and expenses in connection  with  any  action  or
  proceeding  by  or  on behalf of the holders of bonds, are fully met and
  discharged and such contracts are fully performed on  the  part  of  the
  authority.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 32 - Albany County Airport Authority › 2792 - Exemption From Taxes, Assessments and Certain Fees.

§  2792.  Exemption  from  taxes, assessments and certain fees. 1. The
  authority shall not be required to  pay  any  fees,  taxes,  special  ad
  valorem levies or assessments, whether state or local, including but not
  limited to fees, taxes, special ad valorem levies or assessments on real
  property,  franchise  taxes, sales taxes or other excise taxes, upon any
  property owned by it or under its jurisdiction, control or  supervision,
  or  upon  the  uses thereof, or upon its activities in the operation and
  maintenance of its facilities  or  any  fares,  tolls,  rentals,  rates,
  charges,  fees,  revenues  or  other  income  received by the authority.
  Notwithstanding the previous sentence, the authority shall  be  required
  to  pay water and pure water fees or charges as may be negotiated by any
  public corporation. The authority shall at all times be exempt from  any
  filing,  mortgage  recording  or  transfer  fees or taxes in relation to
  instruments filed, recorded or transferred by it or on its  behalf.  The
  construction, use, occupation or possession of any property owned by the
  authority  or  the county, including improvements thereon, by any person
  or public corporation under a lease, lease and  sublease  or  any  other
  agreement   shall  not  operate  to  abrogate  or  limit  the  foregoing
  exemption, notwithstanding that the lessee, user, occupant or person  in
  possession shall claim ownership for federal income tax purposes.
2.  Any  bonds  issued pursuant to this title together with the income
  there from as well as the property of the authority shall at  all  times
  be  exempt  from  taxes, except for transfer and estate taxes. The state
  hereby covenants with the purchasers and with all subsequent holders and
  transferees of bonds issued by the authority pursuant to this title,  in
  consideration  of  the acceptance of and payment for the bonds, that the
  bonds of the authority issued pursuant to  this  title  and  the  income
  therefrom and all revenues, monies, and other property pledged to secure
  the  payment  of  such  bonds  shall at all times be free from taxation,
  except for transfer and estate taxes.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 32 - Albany County Airport Authority › 2794 - Contracts.

§  2794. Contracts. All contracts for construction shall be let by the
  authority in conformity with the applicable provisions  of  section  one
  hundred  thirty-five  of  the  state  finance  law  and  shall be let in
  accordance with the provisions of state  law  pertaining  to  prevailing
  wages, labor standards and working hours.
The authority may, in its discretion, assign contracts for supervision
  and  coordination  to  the successful bidder for any subdivision of work
  for which the authority receives bids. The authority shall not award any
  construction contract except to the lowest bidder who, in  its  opinion,
  is  qualified  to  perform  the work required and who is responsible and
  reliable. The authority may, however, reject any or all  bids  or  waive
  any informality in a bid if it believes that the public interest will be
  promoted  thereby. The authority may reject any bid if, in its judgment,
  the business and technical  organization,  plant,  resources,  financial
  standing,  or  experience of the bidder justifies such rejection in view
  of the work to be performed.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 32 - Albany County Airport Authority › 2796 - Agreements Relating to Payment in Lieu of Taxes.

§  2796.  Agreements relating to payment in lieu of taxes. 1. In order
to assure that municipalities may not suffer  undue  loss  of  taxes  or
assessments  in  the  event that the authority acquires any airport from
the county, any person paying real property taxes or assessments  as  of
the  date  of  the transfer of title from the county to the authority on
any property located within any such airport shall make payments in lieu
of taxes in an amount equal  to  the  sums  which  would  ordinarily  be
imposed  as taxes by any municipality in which such property is located,
pursuant to the prevailing method of determining taxes and assessments.
2. Subject to any agreement with bond holders, the authority may, with
the approval  of  the  county,  but  is  not  required  to,  enter  into
agreements with any municipality of the state to pay annual sums in lieu
of  taxes to any such municipality in respect of any real property which
is owned by the authority is located in such municipality  and  is  used
for  public  aviation  purposes  or  pollution control purposes. For the
purposes of this section, such public aviation  purposes  shall  include
without  limitation  air  terminal  facilities, parking facilities, fuel
facilities, maintenance facilities,  and  facilities  for  the  loading,
unloading,  holding,  interchange  or  transfer  of passengers, freight,
baggage or cargo.
3. (a) In the event that any real property owned by the  authority  is
used by the authority or a lessee thereof for purposes other than public
aviation purposes, the authority, or lessee thereof, as the case may be,
shall,  with  the approval of the county, enter into agreements with any
municipality of the state to pay annual sums in lieu of taxes in respect
of such real property locate in such municipality. For the  purposes  of
this  section,  such  purposes other than public aviation purposes shall
include without  limitation,  hotels,  motels,  restaurants  and  retail
stores  and  concessions  not  located within any air terminal building,
office buildings to the extent not used by the authority  or  any  other
public  corporation  for  its  own  corporate  purposes,  and such other
buildings and improvements as determined by  the  authority  to  be  not
exclusively for public aviation purposes.
(b)  The  authority  shall  determine  (i)  the  amount of such annual
payments in lieu of taxes, (ii) whether the use of such property is  for
purposes  other  than  public aviation purposes, and (iii) the extent to
which such property is used for  purposes  other  than  public  aviation
purposes.  In  making  such determinations the authority shall take into
consideration the recommendations, if any, of the county.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 32 - Albany County Airport Authority › 2797 - Audit and Annual Report.

§  2797. Audit and annual report. In conformity with the provisions of
  section five of article ten of the constitution,  the  accounts  of  the
  authority  shall  be subject to the supervision of the state comptroller
  and an annual audit shall  be  performed  by  an  independent  certified
  accountant.   The   authority   shall  annually  submit  to  the  county
  comptroller, county legislature,  county  executive,  governor  and  the
  state comptroller and to the chairperson of the senate finance committee
  and  the chairperson of the assembly ways and means committee a detailed
  report pursuant to the provisions of section two thousand eight  hundred
  of this chapter, and a copy of such report shall be filed with the clerk
  of the county legislature and the county executive.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 32 - Albany County Airport Authority › 2798 - Limited Liability.

§  2798.  Limited liability. Neither members, officers or employees of
  the authority, nor any municipality, or an officer or  employee  thereof
  acting  on  behalf  of  the  authority, shall be subject to any personal
  liability resulting from the construction, maintenance or  operation  of
  any  of  the properties of the authority or from carrying out any of the
  powers expressly given  in  this  title  provided,  however,  that  this
  section shall not be held to apply to any independent contractor.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 32 - Albany County Airport Authority › 2799 - Transfer of Applications, Proceedings, Approvals and Permits.

§  2799. Transfer of applications, proceedings, approvals and permits.
  1. Any application, review or process in relation to or  in  furtherance
  of  the  purposes  of  or contemplated by this title heretofore filed or
  undertaken, or any proceeding heretofore commenced or any determination,
  finding or award made, by the county or by the county with  the  federal
  government,  the  state department of transportation or any other public
  corporation shall inure to and for the benefit of the authority  to  the
  same  extent and in the same manner as if the authority has been a party
  to such application, review, process, or proceeding from its  inception,
  and  the  authority  shall  be deemed a party thereto, to the extent not
  prohibited  by  any  federal  law.  Any   license,   approval,   permit,
  determination,  finding,  award  or  decision  heretofore  or thereafter
  issued or granted pursuant to or as a result of  any  such  application,
  review,  process  or  proceeding  shall  inure  to the benefit of and be
  binding upon the authority and shall be assigned and transferred by  the
  county   to  the  authority  unless  such  assignment  and  transfer  is
  prohibited by federal law.
2. All such applications, proceedings, licenses,  approvals,  permits,
  determinations,  findings,  awards  and decisions shall further inure to
  and for  the  benefit  of  and  be  binding  upon  any  person  leasing,
  acquiring,  financing,  constructing,  maintaining,  operating, using or
  occupying any facility financed in whole or in part by the authority.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 32 - Albany County Airport Authority › 2799-A - Separability.

§  2799-a.  Separability. If any clause, sentence, paragraph, section,
  or part of this title shall  be  adjudged  by  any  court  of  competent
  jurisdiction  to  be  invalid, such judgment shall not affect, impair or
  invalidate the remainder thereof, but shall be confined in its operation
  to the clause, sentence, paragraph, section, or part thereof involved in
  the controversy in which such judgment shall have been rendered.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 32 - Albany County Airport Authority › 2799-B - Effect of Inconsistent Provisions.

§  2799-b.  Effect  of  inconsistent  provisions.  In  so  far  as the
  provisions of this title are inconsistent with  the  provisions  of  any
  other  act,  general  or  special, or of the county charter or any local
  law,  charter,  ordinance  or  resolution  of  the  county  or   another
  municipality, the provisions of this title shall be controlling. Nothing
  contained  in  this  section  shall  be  held to supplement or otherwise
  expand the powers or duties of the authority otherwise set forth in this
  title. Except as  specifically  provided  for  in  this  title,  in  the
  performance  of  any  of its functions, powers and duties, the authority
  shall be subject to all applicable general or special laws of the state,
  the county charter, and any local law, ordinance or  resolution  of  the
  county.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 33 - New York City Transitional Finance Authority › 2799-BB - Definitions.

§  2799-bb.  Definitions.  For  the purposes of this title, unless the
  context otherwise requires:
1. "Alternative revenues" means (i) sales and compensating  use  taxes
  that  the  city  is  authorized  by  the  state to impose and (ii) taxes
  imposed pursuant to section eleven hundred seven of the tax law.
2. "Authority" or "New York city transitional finance authority" means
  the public benefit corporation created by this title.
3. "Bonds" means bonds, notes and  other  evidences  of  indebtedness,
  issued by the authority.
4.  "Capital  financing need" means a period during which and only the
  extent to which the issuance of bonds  in  accordance  with  this  title
  would  assist the city in meeting its capital needs as determined by the
  mayor pursuant to section twenty-seven hundred  ninety-nine-ff  of  this
  title.
5. "City" means the city of New York.
6. "Comptroller" means the comptroller of the city.
7. "Council" means the council of the city.
8.   "Director  of  management  and  budget"  means  the  director  of
  management and budget of the city.
9. "Mayor" means the mayor of the city.
10. "Project capital costs" or "costs" means  costs,  appropriated  in
  the  capital budget of the city pursuant to chapters nine and ten of the
  New York city charter, as amended from time to time, providing  for  the
  construction,  reconstruction,  acquisition  or installation of physical
  public betterments or improvements, or  the  costs  of  any  preliminary
  studies,  surveys,  maps,  plans,  estimates and hearings, or incidental
  costs, including, but not limited to, legal fees, printing or engraving,
  publication of notices, taking of title,  apportionment  of  costs,  and
  interest  during  construction,  or  any  underwriting  or  other  costs
  incurred in connection with the financing thereof.
11. "Public corporation" means and includes the city,  the  state  and
  every public corporation as defined in the general construction law.
12.  "Revenues"  means  the  tax  revenues  and  all aid, rents, fees,
  charges, payments and other income and receipts paid or payable  to  the
  authority or a trustee for the account of the authority.
13.  "Speaker"  means  the speaker of the council, elected pursuant to
  the rules of the council.
14. "State" means the state of New York.
15. "Tax revenues" means the taxes paid or payable  to  the  authority
  pursuant  to  subsection  (d) of section eight hundred seventy-three, or
  section thirteen hundred  thirteen,  of  the  tax  law  and  such  other
  revenues  as the authority may derive directly from the state from taxes
  imposed by the city or the state and collected by the state.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 33 - New York City Transitional Finance Authority › 2799-CC - New York City Transitional Finance Authority.

§  2799-cc. New York city transitional finance authority.  1. There is
  hereby created the New York city  transitional  finance  authority.  The
  authority shall be a corporate governmental agency constituting a public
  benefit corporation and an instrumentality of the state.
2.  In accordance with the provisions of this title, the authority may
  only  finance  costs,  including  the  refunding  of bonds issued by the
  authority to finance costs, and fund reserves to secure such bonds.
3.  The authority shall continue until all its liabilities  have  been
  met  or  otherwise  discharged. Upon the termination of the existence of
  the authority, all of its rights and  property  shall  pass  to  and  be
  vested in the city.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 33 - New York City Transitional Finance Authority › 2799-DD - Administration of the Authority.

§  2799-dd. Administration of the authority. 1. The authority shall be
  administered by five directors, consisting of the director of management
  and budget, the commissioner of finance of the city, the commissioner of
  the department of design and construction of the city,  the  comptroller
  and the speaker of the council.
2. The director of management and budget shall serve as chairperson of
  the  authority.  The  chairperson  or his or her alternate shall preside
  over all meetings of the directors and shall have such other  duties  as
  may be fixed by the directors.
3.  Notwithstanding any inconsistent provision of any general, special
  or local law, ordinance, resolution or charter, no  officer,  member  or
  employee  of  the  state of New York, any city, county, town or village,
  any governmental entity operating any  public  school  or  college,  any
  school  district  or  any  other  public agency or instrumentality which
  exercises governmental powers under the laws of the state, shall forfeit
  his or her office or employment by reason of his or  her  acceptance  of
  appointment  as  a  director,  officer or employee of the authority, nor
  shall service as such director, officer or employee of the authority  be
  deemed incompatible or in conflict with such office or employment.
4.  Three  directors  shall constitute a quorum for the transaction of
  any business or the exercise of any power of the  authority.  No  action
  shall  be  taken by the authority except pursuant to a favorable vote of
  at least three directors present at a meeting at which  such  action  is
  taken.  Any director may, by written instrument, filed with and approved
  as to form by the authority, designate an  alternate  or  alternates  to
  perform,  in  the  absence of such director, his or her duties unde this
  title. The term "director" as used in  this  title  shall  include  such
  alternates, except that no alternate may designate an alternate pursuant
  to  this subdivision. The designation of such alternates shall be deemed
  temporary only and shall not affect  the  civil  service  or  retirement
  rights of any persons so designated.
5.  The  authority  shall appoint a treasurer and may appoint officers
  and agents as it may require and prescribe their duties.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 33 - New York City Transitional Finance Authority › 2799-EE - General Powers of the Authority.

§  2799-ee.  General  powers  of  the authority.   Except as otherwise
  limited by this title, the authority shall have the following powers  in
  addition  to  those specially conferred elsewhere in this title, subject
  only to agreements with bondholders:
1. to sue and be sued;
2. to have a seal and alter the same at pleasure;
3. to make and alter by-laws for its organization and management  and,
  subject  to agreements with its bondholders, to make and alter rules and
  regulations governing the exercise of its powers and fulfillment of  its
  purposes under this title;
4.  to  make  and  execute  contracts  and  all  other  instruments or
  agreements necessary or convenient to carry out any powers and functions
  expressly given in this title;
5. to commence any action to protect or enforce  any  right  conferred
  upon it by any law, contract or other agreement;
6.  to  borrow  money  and  issue bonds, or to refund the same, and to
  provide for the rights of the holders of its obligations;
7. to accept  gifts,  grants,  loans  or  contributions  of  funds  or
  financial  or  other  aid  in  any  form from the city, state or federal
  government or any agency or instrumentality thereof, or from  any  other
  source  and  for  any  of  its corporate purposes in accordance with the
  provisions of this title;
8. to invest any funds held in reserves or sinking funds, or any funds
  not required for immediate use or disbursement, at the discretion of the
  authority, in obligations which may,  from  time  to  time,  be  legally
  purchased  by  the  city  pursuant  to  section  eleven  of  the general
  municipal law;
9. to pledge all or any part of  its  revenues  as  security  for  the
  payment  of the principal of and interest on any bonds so issued and any
  agreements made in connection therewith;
10. to appoint such officers and employees as it may require  for  the
  performance of its duties and to fix and determine their qualifications,
  duties, and compensation, subject to the provisions of the civil service
  law, the rules of the civil service commission of the city, the New York
  city  collective  bargaining  law  and  applicable collective bargaining
  agreements, and to  retain  or  employ  counsel,  auditors  and  private
  financial  consultants  on  a  contract basis or otherwise for rendering
  professional or technical services and advice;
11. to do any and all things necessary or convenient to carry out  its
  purposes  and  exercise  the  powers expressly given and granted in this
  title provided, however, such authority  shall  under  no  circumstances
  acquire,   hold  or  transfer  title  to,  lease,  own  beneficially  or
  otherwise, manage, operate or otherwise exercise control over  any  real
  property, any improvement to real property or any interest therein other
  than  a  lease  of  office  space  deemed  necessary or desirable by the
  authority.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 33 - New York City Transitional Finance Authority › 2799-II - Agreement With the State.

§  2799-ii. Agreement with the state. The state does hereby pledge and
  agree with the holders of any issue of bonds  and/or  bond  anticipation
  notes  secured  by  such a pledge that the state will not limit or alter
  the rights hereby vested in the authority to fulfill the  terms  of  any
  agreements  made with such holders pursuant to this title, or in any way
  impair the rights and remedies of such holders or the security for  such
  bonds  and/or  bond  anticipation  notes  until  such  bonds and/or bond
  anticipation notes, together with the interest thereon and all costs and
  expenses in connection with any action or proceeding by or on behalf  of
  such  holders,  are fully paid and discharged. Nothing contained in this
  section shall be deemed to restrict the right of  the  state  to  amend,
  modify,  repeal  or otherwise alter statutes imposing or relating to the
  taxes payable to the authority pursuant to  subsection  (d)  of  section
  eight hundred seventy-three and section thirteen hundred thirteen of the
  tax law, but such taxes shall in all events continue to be so payable so
  long  as  any such taxes are imposed. Not less than thirty days prior to
  the beginning of each city fiscal year, the chairperson of the authority
  shall certify to the state comptroller, the governor, and the members of
  the board of directors of the authority a  schedule  of  maximum  annual
  debt service payments due on the bonds and notes of the corporation then
  outstanding.  To  the  extent  that  the  tax  revenues  payable  to the
  authority under subsection (d) of section  eight  hundred  seventy-three
  and  section thirteen hundred thirteen of the tax law during such fiscal
  year are projected by the mayor to be insufficient to meet at least  one
  hundred  fifty percent of maximum annual debt service on authority bonds
  then outstanding, the mayor shall so notify the  state  comptroller  and
  the  state  comptroller  shall  pay  to  the  authority from alternative
  revenues such amount as is necessary to provide  at  least  one  hundred
  fifty  percent  of  the  maximum annual debt service; provided, however,
  that for so  long  as  any  indebtedness  of  the  municipal  assistance
  corporation  for the city of New York remains outstanding no alternative
  revenues that are, as of the effective date of this title, or may in the
  future be, required to be deposited in the municipal assistance tax fund
  established under section ninety-two-d of the state finance law shall be
  paid to the authority except out of funds that are otherwise required to
  be paid to the city under such section of the state finance law. Nothing
  in this section shall be deemed  to  obligate  the  state  to  make  any
  additional  payments  or  impose  any  taxes to satisfy the debt service
  obligations of the authority.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 33 - New York City Transitional Finance Authority › 2799-JJ - Agreement With the City.

§  2799-jj.  Agreement with the city. The city is authorized to pledge
  and  agree  with  the  holders  of  any  issue  of  bonds  and/or   bond
  anticipation notes secured by such a pledge that the city will not limit
  or  alter the rights hereby vested in the authority to fulfill the terms
  of any agreements made with such holders pursuant to this title,  or  in
  any  way  impair the rights and remedies of such holders or the security
  for such bonds and/or bond anticipation notes until  such  bonds  and/or
  bond  anticipation  notes,  together  with  the interest thereon and all
  costs and expenses in connection with any action or proceeding by or  on
  behalf of such holders, are fully paid and discharged. Nothing contained
  in  this section shall be deemed to restrict any right the city may have
  to amend, modify or otherwise alter local laws imposing or  relating  to
  the taxes payable to the authority pursuant to subsection (d) of section
  eight  hundred seventy-three or section thirteen hundred thirteen of the
  tax law so long as, after giving effect to such amendment,  modification
  or  other  alteration, the amount of tax revenues projected by the mayor
  to be available to  the  authority  during  each  of  its  fiscal  years
  following  the  effective  date of such amendment, modification or other
  alteration shall be not less than one hundred fifty percent  of  maximum
  annual debt service on authority bonds then outstanding.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 33 - New York City Transitional Finance Authority › 2799-KK - Bonds Legal for Investment and Deposit.

§  2799-kk.  Bonds legal for investment and deposit.  The bonds of the
  authority are hereby made securities in which all  public  officers  and
  bodies  of  the  state  and  all public corporations, municipalities and
  municipal subdivisions, all insurance  companies  and  associations  and
  other  persons  carrying  on  an insurance business, all banks, bankers,
  trust  companies,  savings  banks  and  savings  associations  including
  savings   and   loan   associations,  building  and  loan  associations,
  investment companies and other persons carrying on a  banking  business,
  all  administrators,  conservators,  guardians,  executors, trustees and
  other fiduciaries, and all other persons whatsoever who are now  or  may
  hereafter  be  authorized  to invest in bonds or in other obligations of
  the state, may properly and legally invest funds, including capital,  in
  their  control  or  belonging  to  them.  The bonds are also hereby made
  securities which may be deposited with and may be received by all public
  officers and bodies of the  state  and  all  municipalities  and  public
  corporations  for  any  purpose  for which the deposit of bonds or other
  obligations of the state is now or may hereafter be authorized.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 33 - New York City Transitional Finance Authority › 2799-LL - Tax Exemption and Tax Contract by the State.

§  2799-ll.  Tax  exemption  and  tax  contract by the state. 1. It is
  hereby determined that the creation of the authority  and  the  carrying
  out  of its corporate purposes is in all respects for the benefit of the
  people of the state of New York and is a  public  purpose.  Accordingly,
  the  authority shall be regarded as performing an essential governmental
  function in the exercise of the powers conferred upon it by this  title,
  and  the authority shall not be required to pay any fees, taxes, special
  ad valorem levies or assessments of any kind, including, but not limited
  to, franchise taxes, sales taxes or other taxes, upon or with respect to
  any  property  owned  by  it  or  under  its  jurisdiction,  control  or
  supervision,  or  upon  the uses thereof, or upon or with respect to its
  activities or operations in furtherance of the powers conferred upon  it
  by  this  title,  or  upon or with respect to any fares, tolls, rentals,
  rates,  charges,  fees,  revenues  or  other  income  received  by   the
  authority.
2.  Any  bonds  issued pursuant to this title together with the income
  therefrom shall at all times be exempt from taxation.
3. The state  hereby  covenants  with  the  purchasers  and  with  all
  subsequent  holders  and  transferees  of  bonds issued by the authority
  pursuant to this title,  in  consideration  of  the  acceptance  of  and
  payment  for  the bonds, that the bonds of the authority issued pursuant
  to this title and the income therefrom and  all  revenues,  monies,  and
  other  property  pledged  to  pay or to secure the payment of such bonds
  shall at all times be free from taxation.
2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 33 - New York City Transitional Finance Authority › 2799-NN - Audit.

§  2799-nn. Audit.   The accounts of the authority shall be subject to
  the supervision and audit of the comptroller and the state  comptroller.
  In  addition, the authority shall be subject to an annual management and
  financial  audit  performed  by  an  independent  certified   accountant
  selected  by  the  authority.  Such  audited  report,  together with the
  audited financial statements of the authority, shall be submitted to the
  mayor, the speaker of the city council, the comptroller, the director of
  management and budget, the New York state financial control  board,  the
  governor,  the  state comptroller, the chair and ranking minority member
  of the senate finance committee  and  the  chair  and  ranking  minority
  member of the assembly ways and means committee.