2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 12 - New York State Environmental Facilities Corporation › 1285-K - Financing of the Design, Acquisition, Construction, Improvement and Installation of Riverbank Park.

§   1285-k.   Financing  of  the  design,  acquisition,  construction,
  improvement and installation of Riverbank Park. In order  to  effectuate
  the  purposes  of  this  title, the corporation shall have the following
  additional special powers:
1. Notwithstanding the provisions of any  law  to  the  contrary,  the
  corporation  and  any  state  agency,  subject  to  the  approval of the
  director of the budget, may enter into  a  contract  for  financing  the
  design,  acquisition,  construction, improvement and installation of all
  or any portion of Riverbank Park,  for  and  on  behalf  of  such  state
  agency;  and  the  corporation  and  any  state  agency may enter into a
  contract, lease, easement, license or other instrument pursuant to which
  the corporation  shall  make  all  or  any  portion  of  Riverbank  Park
  available  to  such  agency,  for  use  as  a park. Any such contract or
  contracts, lease, easement, license or other instrument  shall  be  upon
  such  terms  and  conditions  as  the  corporation and the subject state
  agency shall determine to be reasonable, including, but not limited  to,
  the  payment  of, or reimbursement to the corporation for, (a) all costs
  of the corporation in financing the design,  acquisition,  construction,
  improvement  and  installation  of all or any portion of Riverbank Park,
  and any claims arising therefrom, (b) all fees and other charges of, and
  all expenses  incurred  by,  the  corporation  in  connection  with  the
  issuance  and  administration  of  any  bonds  or  notes  issued  by the
  corporation for such purpose, and (c)  amounts  sufficient  to  pay  all
  principal,  premium,  if  any, and interest on such bonds or notes. Such
  payment or reimbursement may be made annually or otherwise,  may  be  in
  fixed  amounts  or based on any factors or other matters, or may be made
  in any other manner, as such contract or contracts shall provide.
2. Any contract, lease, easement, license or other instrument  entered
  into  by the corporation pursuant to subdivision one of this section may
  be assigned or pledged by the corporation as security for its  bonds  or
  notes  issued  for  the  purpose  of  financing the design, acquisition,
  construction, improvement and installation of  all  or  any  portion  of
  Riverbank Park.
3.  The  corporation,  any  state  agency, the city of New York or any
  agency or instrumentality thereof, may enter into any leases, easements,
  licenses, or other instruments, for  the  purpose  of  granting  to  the
  corporation  any  interest  in real property which the corporation shall
  deem necessary for the purpose of  financing  the  design,  acquisition,
  construction,  improvement  and  installation  of  all or any portion of
  Riverbank Park.
4. Notwithstanding the provisions of subdivision one of this  section,
  any  contract, lease, easement, license or other instrument entered into
  by the corporation with any state agency, pursuant to subdivision one of
  this section, shall (a) provide that the obligation of the state or such
  state agency to pay the amounts therein provided shall not constitute  a
  debt  of the state within the meaning of any constitutional or statutory
  provision, and (b) be deemed executory only to  the  extent  moneys  are
  available,  and  provide  that the obligation of the state or such state
  agency to make payments thereunder is subject to annual appropriation by
  the legislature.